TMCnet News
Look for Shares of International Business Machines to Potentially Pullback after Yesterday's 1.07% RiseDec 18, 2012 (SmarTrend(R) News Watch via COMTEX) -- International Business Machines (NYSE:IBM) traded in a range yesterday that spanned from a low of $193.84 to a high of $195.92. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $193.91 on volume of 4.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious. In the past 52 weeks, shares of International Business Machines have traded between a low of $177.35 and a high of $211.79 and are now at $195.66, which is 10% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%. SmarTrend recommended that its subscribers protect gains by selling shares of International Business Machines on October 17th, 2012 by issuing a Downtrend alert when the shares were trading at $200.98. Since that call, shares of International Business Machines have fallen 3.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |