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TMCNet:  Look for Shares of International Business Machines to Potentially Rebound after Yesterday's 1.98% Sell Off

[November 07, 2012]

Look for Shares of International Business Machines to Potentially Rebound after Yesterday's 1.98% Sell Off

Nov 07, 2012 (SmarTrend(R) News Watch via COMTEX) -- International Business Machines (NYSE:IBM) traded in a range yesterday that spanned from a low of $191.17 to a high of $193.68. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $192.01 on volume of 4.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.


In the past 52 weeks, shares of International Business Machines have traded between a low of $177.06 and a high of $211.79 and are now at $191.20, which is 8% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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

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