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Heavy Selling in IBM Stock Price, Is it Profit Booking or Downtrend?

Heavy Selling in IBM Stock Price, Is it Profit Booking or Downtrend? Following a recent surge, the value of the IBM stock is being corrected.

Buyers were able to successfully close Thursday’s price candle above the 0.618 mark, as shown by the Fib Retracement stage.

While waiting for the weekly price closure, trading volumes were strong during the overnight sell-off.
The global information and technology company International Business Machines Corporation (IBM) has recorded a quicker rate than anticipated. Last night, the stock prices fell as a result of selling pressure brought on by a dip in the worldwide market. As of the conclusion of Thursday, the Dow Jones was down 0.46%, the S&P 500 was down 1% less, and the Nasdaq was down 1.73%.

The latest AI-based software from International Business Machines Corporation is being promoted. NYSE: Over the previous few weeks, the price of IBM’s stock has risen as anticipated. Given the market action’s generally range-bound phase during the previous 18 months, this surge was anticipated. Bulls and bears put their buy and sell orders due to this broad range.

The IBM stock price repeatedly tested $115 as support and $140-$145 as resistance due to its continued wide horizontal range. Bulls scored a robust bullish surge in October, with digital assets up 16.4% despite the roller-coaster-like market. Later, the month of November begins with selling, and it is probably going to continue.

Due to resistance, purchasers started taking profits and the share price was under selling pressure. In spite of a market reversal, buyers managed to keep the price above the 0.618 Fib level during the last trading session. Sellers were aggressively selling the asset in the mail on Thursday, and as a result, it finished at $134.47 level, down 1.72%. The next support level will be the 0.50 level ($130) of the fib if the selling persists from this point forward.

The market capitalization was $121.58 billion as of November 3rd. As a result, trading volume was robust despite overnight selling. Buyers drove the price of IBM stock over the 200 DMA’s red zone of instability amid aggressive accumulation. Currently, before short-covering, bears are going for the 200 DMA (red).

The RSI indicator is regressing in relation to the daily price scale. This weak indicator is causing selling to take place. Now, the apex is at the 60-point level.


The NYSE: IBM stock price is unquestionably under selling pressure as buyers began to book profits near to key resistance. Bears may drive the price of IBM stock down to the 200 DMA or $130 support if purchasers are unable to hold a 0.618 level of fib retracement.

Technical Levels

Levels of assistance: $130 and $115

$140 and $150 are the resistance levels.


The author’s views and those of any other individuals mentioned in this piece are for informative purposes only and do not constitute advise on finances, investments, or other matters. There is a chance of suffering a loss of money while buying or selling cryptocurrencies.

How does IBM stock fare?

Stock Price Prediction

The median price objective among the 15 analysts that are providing 12-month price projections for International Business Machines Corp is 140.00, with high and low estimates of 160.00 and 111.00, respectively. From the most recent price of 138.20, the median forecast reflects a rise of +1.30%.

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