Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $20.42 million following the completion of this transaction.
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As published in their initiating research note from Goldman on June 24, 2024, International Business Machines Corp. [IBM] has been a Buy and the price target has been revised to $200. Analysts at Exane BNP Paribas started covering the stock with ‘”an Underperform”‘ outlook in a report released in early May. As of January 19, 2024, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for IBM. Earlier on January 05, 2024, Jefferies initiated its rating. Their recommendation was “a Hold” for IBM stock.
Analyzing IBM Stock Performance
During the last five days, there has been a drop of approximately -1.77%. Over the course of the year, International Business Machines Corp. shares have jumped approximately 4.46%. 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 $170.57, while a 200-day SMA reached $167.29. Nevertheless, trading volume fell to 2.86 million shares from 2.78 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 170.05, which, if violated, would cause prices to drop to 169.26. In the upper region, resistance lies at 172.07. The next price resistance is at 173.30. RSI (Relative Strength Index) is 49.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.79, which suggests the price will decrease in the coming days. Percent R is at 65.32%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
