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TMCNet:  Look for Shares of International Business Machines to Potentially Pullback after Yesterday's 1.68% Rise

[November 23, 2012]

Look for Shares of International Business Machines to Potentially Pullback after Yesterday's 1.68% Rise

Nov 23, 2012 (SmarTrend(R) News Watch via COMTEX) -- International Business Machines (NYSE:IBM) traded in a range yesterday that spanned from a low of $190.80 to a high of $193.49. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $190.89 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.


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 5.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

International Business Machines share prices have moved between a 52-week high of $211.79 and a 52-week low of $177.06 and are now trading 9% above that low price at $193.49 per share. The 200-day and 50-day moving averages have moved 0.11% higher and 0.12% lower over the past week, respectively.

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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