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TMCNet:  After Yesterday's Rally of 4.41% Shares Could Potentially Pullback

[January 23, 2013]

After Yesterday's Rally of 4.41% Shares Could Potentially Pullback

Jan 23, 2013 (SmarTrend(R) News Watch via COMTEX) -- International Business Machines (NYSE:IBM) traded in a range yesterday that spanned from a low of $203.36 to a high of $208.58. Yesterday, the shares gained 4.4%, which took the trading range above the 3-day high of $196.08 on volume of 12.4 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, International Business Machines share prices have been bracketed by a low of $181.85 and a high of $211.79 and are now at $204.72, 13% 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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