International Business Machines Corp. [NYSE: IBM] Sees Decrease in Stock Value


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. International Business Machines Corp. shares valued at $1,811,524 were sold by BROWDY MICHELLE H on Feb 01. At $184.85 per share, BROWDY MICHELLE H sold 9,800 shares. The insider’s holdings dropped to 119,498 shares worth approximately $21.94 million following the completion of this transaction.

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As published in a research note from Evercore ISI on January 19, 2024, International Business Machines Corp. [IBM] has been rated up from an In-line to an Outperform and the price target has been revised to $200 from $165.

Analyzing IBM Stock Performance

During the last five days, there has been a drop of approximately -0.09%. Over the course of the year, International Business Machines Corp. shares have jumped approximately 12.24%. Shares of the company reached a 52-week high of $196.90 on 01/25/24 and a 52-week low of $157.88 on 01/08/24. A 50-day SMA is recorded $170.22, while a 200-day SMA reached $147.38. Nevertheless, trading volume fell to 3.17 million shares from 4.29 million shares the previous day.

Support And Resistance Levels for International Business Machines Corp. (IBM)

According to the 24-hour chart, there is a support level at 182.22, which, if violated, would cause prices to drop to 180.87. In the upper region, resistance lies at 184.96. The next price resistance is at 186.35. RSI (Relative Strength Index) is 61.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.77, which suggests the price will decrease in the coming days. Percent R is at 80.92%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is International Business Machines Corp. subject to short interest?

Stocks of International Business Machines Corp. saw a sharp steep in short interest on Jan 31, 2024 dropping by -2.21 million shares to 23.51 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2023 was 25.72 million shares. A decline of -9.4% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.8 of the overall float, the days-to-cover ratio (short ratio) decline to 3.8.

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