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SmarTrend Watching for Potential Rebound in Shares of Ibm After 3.51% Loss

By Shiri Gupta

Ibm (NYSE:IBM) traded in a range yesterday that spanned from a low of $117.53 to a high of $119.99. Yesterday, the shares fell 3.5%, which took the trading range below the 3-day low of $120.26 on volume of 2.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, Ibmhas traded in a range of $0.00 to $158.75 and are now at $0.00. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.5%.

Keywords: rebounders

Ticker(s): IBM