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SmarTrend Watching for Potential Rebound in Shares of International Business Machines After 2.76% Loss

By James Quinn

International Business Machines (NYSE:IBM) traded in a range yesterday that spanned from a low of $153.00 to a high of $155.78. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $158.36 on volume of 8.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of International Business Machines have traded between a low of $116.90 and a high of $182.79 and are now at $155.10, which is 33% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of International Business Machines on March 22nd, 2017 by issuing a Downtrend alert when the shares were trading at $173.93. Since that call, shares of International Business Machines have fallen 8.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders International Business Machines

Ticker(s): IBM