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 $197,139 were purchased by ZOLLAR ALFRED W on Nov 13 ’24. At $210.62 per share, ZOLLAR ALFRED W acquired 936 shares. The insider’s holdings grew to 936 shares worth approximately $0.22 million following the completion of this transaction.
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Also, LAMOREAUX NICKLE JACLYN sold 3,600 shares, netting a total of over 774,727 in proceeds. Following the sale of shares at $215.20 each, the insider now holds 25,390 shares.
Before that, BROWDY MICHELLE H had sold 9,800 shares from its account. In a trade valued at $1,811,524, the Senior Vice President traded International Business Machines Corp shares for $184.85 each. Upon closing the transaction, the insider’s holdings decreased to 9,800 shares, worth approximately $27.9 million.
As published in a research note from DZ Bank on October 02, 2024, International Business Machines Corp [IBM] has been rated down from a Buy to a Hold and the price target has been revised to $215. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of May 02, 2024, Exane BNP Paribas has initiated its “an Underperform” rating for IBM. Earlier on January 19, 2024, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for IBM stock which previously was a “an In-line”.
Analyzing IBM Stock Performance
During the last five days, there has been a surge of approximately 2.04%. Over the course of the year, International Business Machines Corp shares have jumped approximately 42.76%. Shares of the company reached a 52-week high of $237.37 on 10/15/24 and a 52-week low of $157.88 on 01/08/24. A 50-day SMA is recorded $221.05, while a 200-day SMA reached $194.02. Nevertheless, trading volume fell to 4.1 million shares from 86122.0 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 230.65, which, if violated, would cause prices to drop to 227.80. In the upper region, resistance lies at 235.04. The next price resistance is at 236.58. RSI (Relative Strength Index) is 70.78 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.14, which suggests the price will increase in the coming days. Percent R is at 0.84%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
