The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. International Business Machines Corp. shares valued at $1,811,524 were sold by BROWDY MICHELLE H on Feb 01 ’24. At $184.85 per share, BROWDY MICHELLE H sold 9,800 shares. The insider’s holdings dropped to 119,498 shares worth approximately $19.68 million following the completion of this transaction.
As published in their initiating research note from Exane BNP Paribas on May 02, 2024, International Business Machines Corp. [IBM] has been an Underperform and the price target has been revised to $145. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in mid January. As of January 05, 2024, Jefferies has initiated its “Hold” rating for IBM. Earlier on January 05, 2024, Societe Generale downgraded its rating. Their new recommendation was “a Sell” for IBM stock which previously was a “a Hold”.
Analyzing IBM Stock Performance
During the last five days, there has been a drop of approximately -2.50%. Over the course of the year, International Business Machines Corp. shares have jumped approximately 0.70%. Shares of the company reached a 52-week high of $199.18 on 03/12/24 and a 52-week low of $157.88 on 01/08/24. A 50-day SMA is recorded $186.02, while a 200-day SMA reached $162.40. Nevertheless, trading volume fell to 3.82 million shares from 4.03 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 163.25, which, if violated, would cause prices to drop to 161.80. In the upper region, resistance lies at 165.51. The next price resistance is at 166.32. RSI (Relative Strength Index) is 22.62 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.47, which suggests the price will decrease in the coming days. Percent R is at 91.67%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
