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Ibm (IBM) Approaches New Downside Target of $141.29

Oct 12, 2021 (SmarTrend(R) News Watch via COMTEX) --
Shares of Ibm (NYSE:IBM) opened today below their pivot of $142.97 and have already reached the first level of support at $141.86. Analysts will be watching for a cross of the next downside pivot targets of $141.29 and $139.61.

Ibm has overhead space with shares priced $142.43, or 16.5% below the average consensus analyst price target of $170.61. Ibm shares have support at the 50-day moving average (MA) of $139.80 and additional support at the 200-day MA of $136.10.

In the past 52 weeks, Ibm share prices have been bracketed by a low of $105.92 and a high of $152.84 and are now at $142.43, 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Ibm. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ibm in search of a potential trend change.

Write to SmarTrend at cs@mysmartrend.com

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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

comtex tracking

COMTEX_395027090/2476/2021-10-12T10:21:03

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