ARMONK, NY – International Business Machines Corp. (IBM) shares ended the week on a sour note, closing with a significant loss after a midday rally attempt was decisively rejected by sellers. The negative sentiment carried into after-hours trading, suggesting a difficult start to the new week.
The tech stalwart closed
3.75 (1.33%) for the session. While the stock showed early promise, climbing from its open of $278.20 to a daily high of $279.84, it was unable to sustain the momentum. The afternoon saw a steady decline to a low of
277.00**, a drop of 0.079%.
Analysis for Monday:
The intraday price action points to a weak outlook for Monday. The failure to hold morning gains and the subsequent reversal is a classic sign of seller dominance. This bearish pattern, combined with the negative after-hours trading, suggests IBM is poised for further downward movement on Monday.
Investors will be watching the recent low of $275.83 as a key support level. A breach of this price could accelerate the sell-off as the bearish momentum from Friday looks set to continue into the new trading week.
