International Business Machines Corp.’s recent filing unveils that its Senior Vice President BROWDY MICHELLE H unloaded Company’s shares for reported $1.81 million on Feb 01 ’24. In the deal valued at $184.85 per share,9,800 shares were sold. As a result of this transaction, BROWDY MICHELLE H now holds 119,498 shares worth roughly $20.01 million.
Evercore ISI upgraded its International Business Machines Corp. [IBM] rating to an Outperform from a an In-line in a research note published on January 19, 2024; the price target was increased to $200 from $165. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in early January with a ‘”a Hold”‘ rating. Societe Generale also remained covering IBM and has decreased its forecast on January 05, 2024 with a “Sell” recommendation from previously “Hold” rating. BofA Securities maintained its rating on December 05, 2023. It rated IBM as “a Buy”.
Price Performance Review of IBM
On Monday, International Business Machines Corp. [NYSE:IBM] saw its stock jump 0.18% to $167.43. Over the last five days, the stock has lost -7.95%. International Business Machines Corp. shares have risen nearly 2.37% since the year began. Nevertheless, the stocks have risen 31.87% over the past one year. While a 52-week high of $199.18 was reached on 03/12/24, a 52-week low of $120.55 was recorded on 01/08/24. SMA at 50 days reached $187.12, while 200 days put it at $161.94. A total of 5.26 million shares were traded, compared to the trading of 8.98 million shares in the previous session.
Levels Of Support And Resistance For IBM Stock
The 24-hour chart illustrates a support level at 166.36, which if violated will result in even more drops to 165.30. On the upside, there is a resistance level at 168.36. A further resistance level may holdings at 169.29. The Relative Strength Index (RSI) on the 14-day chart is 24.28, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -11.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.05%. Stochastics %K at 8.80% indicates the stock is a buying.
The most recent change occurred on September 20, 2023 when RBC Capital Mkts began covering the stock and recommended ‘”an Outperform”‘ rating along with a $188 price target.
