International Business Machines Corp.(NYSE:IBM) is trading higher today by $1.52 to $145.80. This stock is the highest price stock in the Dow Jones Industrial Average. It is important to note that the Dow Jones Industrial Average is a price cap weighted index and not a market cap weighted index like the S&P 500 Index and the NASDAQ Composite. Therefore, when a high price stock such IBM rallies it will lift the index much more than a stock like Walt Disney Co.(NYSE:DIS) which trades around $37.30 a share.
Intra-day IBM will have short term resistance around the $146.00 and $146.50 levels. Watch for small pullbacks around these areas.
