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 $20.15 million.
Exane BNP Paribas initiated its International Business Machines Corp. [IBM] rating to an Underperform in a research note published on May 02, 2024; the price target was $145. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who increased its forecast for the stock in mid January from “an In-line” to “an Outperform”. Jefferies began covering IBM with “Hold” recommendation on January 05, 2024. Societe Generale revised its rating on January 05, 2024. It rated IBM as “a Sell” which previously was an “a Hold”.
Price Performance Review of IBM
On Monday, International Business Machines Corp. [NYSE:IBM] saw its stock jump 1.75% to $168.61. Over the last five days, the stock has gained 0.70%. International Business Machines Corp. shares have risen nearly 3.09% since the year began. Nevertheless, the stocks have risen 37.56% 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 $185.30, while 200 days put it at $162.71. A total of 4.22 million shares were traded, compared to the trading of 3.4 million shares in the previous session.
Levels Of Support And Resistance For IBM Stock
The 24-hour chart illustrates a support level at 167.10, which if violated will result in even more drops to 165.60. On the upside, there is a resistance level at 169.39. A further resistance level may holdings at 170.18. The Relative Strength Index (RSI) on the 14-day chart is 33.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -7.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.85%. Stochastics %K at 16.29% indicates the stock is a buying.
The most recent change occurred on December 05, 2023 when BofA Securities resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $170.
