IBM shares surged 13% Friday to near $298 and topped $300 in early Monday after Barclays initiated Overweight with a $350 price target and Wedbush reiterated Buy at $320, lifting volume to 28.48 million shares. Institutional Chaikin Money Flow remained below 0.15 and put-call ratio fell from 0.60 to 0.23.
IBM stock jumped 13% on Friday to close near $298 and pierced $300 in early Monday trading, marking its biggest one-day gain in months. A recycled December clip of President Trump praising IBM acted as a spark for late buyers after a sustained rally from a May 13 low near $212, a 41% gain.
Barclays initiated coverage with an Overweight rating and set a $350 target, citing sticky software sales to large regulated clients, while Wedbush maintained a Buy recommendation and a $320 target. These upgrades have bolstered bullish sentiment at a key resistance level.
Trading volume has climbed steadily since mid-May, with Friday’s session printing 28.48 million shares as the stock broke higher. Such elevated participation lends credibility to the rally but could also signal a climax if buying pressure exhausts.
The Chaikin Money Flow indicator has trended lower since late April, lingering around 0.15 and signaling tepid institutional conviction until it clears 0.25. Meanwhile, the put-call ratio dropped from 0.60 on May 20 to 0.23, and open interest ratio eased from 0.84 to 0.66, highlighting bullish options positioning.
