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Shares of Ibm Fall to a New 52-Week Low

By Shiri Gupta

Shares of Ibm (NYSE:IBM) traded at a new 52-week low today of $92.56. Approximately 473,000 shares have changed hands today, as compared to an average 30-day volume of 6.9 million shares.

Ibm has overhead space with shares priced $93.76, or 45.0% below the average consensus analyst price target of $170.61. Ibm shares should first meet resistance at the 50-day moving average (MA) of $135.47 and find additional resistance at the 200-day MA of $137.48.

Ibm share prices have moved between a 52-week high of $158.75 and the current low of $92.56 and are currently at $93.76 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 2.4%.

International Business Machines Corporation (IBM) provides computer solutions through the use of advanced information technology. The Company's solutions include technologies, systems, products, services, software, and financing. IBM offers its products through its global sales and distribution organization, as well as through a variety of third party distributors and resellers.

SmarTrend recommended that its subscribers protect gains by selling shares of Ibm on February 25th, 2020 by issuing a Downtrend alert when the shares were trading at $144.17. Since that call, shares of Ibm have fallen 33.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows

Ticker(s): IBM