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Ibm (IBM) Approaches New Downside Target of $150.61

By Amy Schwartz

Shares of Ibm (NYSE:IBM) opened today below their pivot of $150.89 and have already reached the first level of support at $150.89. Investors may be interested in a cross of the next downside pivot targets of $150.61 and $150.33.

Potential upside of 12.9% exists for Ibm, based on a current level of $151.17 and analysts' average consensus price target of $170.61. The stock should find initial support at its 50-day moving average (MA) of $140.22 and further support at its 200-day MA of $138.58.

Ibm share prices have moved between a 52-week high of $158.75 and a 52-week low of $126.85 and are now trading 19% above that low price at $151.17 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Ibm and will alert subscribers who have IBM in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts

Ticker(s): IBM