Hello Traders!
Let's take a look at BMY stocks on a daily timeframe. BMY has been on a downtrend for almost a year now. We expect the price to continue the downtrend and then test the support at the swing low from the end of 2021. We then take long position, expecting the price to break the pattern upwards.
What's your opinion? Let us know in the comments.
Based on 12 Wall Street analysts offering 12 month price targets for Bristol-Myers Squibb in the last 3 months. The average price target is $70.91 with a high forecast of $85.00 and a low forecast of $56.00.
Bristol-Myers Squibb Co - 30d expiry - We look to Sell at 62.98 (stop at 65.08)
There is no clear indication that the downward move is coming to an end.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
We look for a temporary move higher.
Previous support at 63 now becomes...
Bristol-Myers Squibb Co - 30d expiry - We look to Sell at 62.98 (stop at 65.08)
Daily signals are bearish.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
We look for a temporary move higher.
Previous support at 63 now becomes resistance.
50 1 day EMA is at 63.70.
Our profit...
The PEAD projected a bearish outlook for NYSE:BMY after a negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 100%.
The PEAD projected a bearish outlook for NYSE:BMY after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 83.33%.
4Hr chart showing a dip to a strong trend line in green
I believe this green trend line will hodl and price will recover from this line
Bars pattern shows my thoughts
Bristol-Myers Squibb Co - 30d expiry - We look to Buy a break of 71.21 (stop at 68.61)
Prices have reacted from 65.28.
65.28 has been pivotal.
Posted a Double Top formation.
71.07 has been pivotal.
A break of the recent high at 71.07 should result in a further move higher.
This stock has seen good sales growth.
Our profit targets will be 77.71 and 78.71...
Bristol-Myers Squibb Co - 30d expiry - We look to Sell a break of 65.18 (stop at 67.68)
Daily signals are bearish.
There is no clear indication that the downward move is coming to an end.
65.95 has been pivotal.
A break of the recent low at 65.28 should result in a further move lower.
Price action is forming a bearish flag which has a bias to break to the...
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in...
The PEAD projected a Bullish outlook for $BMY after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 50%.
Looking like a short possibility, broke down from a rising wedge. Entry if it continues through volume shelf and previous price action hot spot at 78.5ish area. Healthcare has been one of the "safe" spaces for funds to hide
BMY chart is not encouraging if you are long the stock. We have just broken below cloud support, the bear market will likely worsen the next several months taking out all the "safe haven" stocks. BMY is slightly oversold here and should bounce at support around $72 before breaking and going lower. Next target $68.50 then $63.59 then lookout below
