Trade Idea Enter Long - Ideal price is $64-$66 Stop Loss - $64.4 Profit Target - $70-$71 ARK fund is dumping Bristol-Myers Squibb (BMY), should you? Yet another solid company with solid financials who is currently trading at 65.6% below estimated fair values. Earnings are forecasted to grow 30.88% per year. This stock also pays out a reliable dividend of...
My prediction for BMY price will drop to $65-64 by 9/10/21. 3 contracts bought
Healthcare and Bio stocks have been slowly creeping up the past few weeks. BMY has been eyeing the 70 level and I believe we will see it touch within the next few weeks. They recently had a cancer drug FDA approved: finance.yahoo.com Technicals: - RSI level over 50 on the daily - Positive MACD on the daily and is curling upwards - OBV is rising with price -...
Boring old pharma names like Pfizer and Johnson & Johnson have plodded higher lately. Bristol Myers Squibb may be following a similar course. The first chart pattern on BMY is the steady uptrend along its 50-day simple moving average (SMA). Also notice how price fell into oversold territory on stochastics last week. Next, consider the current price zone around...
BMY looks like it could take a tumble. Im not sure if I will take the trade myself. But we have the following confluences; Rising Wedge Pattern Momentum divergence (Momentum = Lower Highs but Price = Higher Highs) RSI divergence (RSI = Lower Highs but Price = Higher Highs) Volume looks to be on the decline (giving confirmation to the wedge)
When I say "historic" for BMY I'm not talking ATH but the stock's encroaching on an area that has been tested 3 times being rejected each time. This is the 236 fib area using 2016's high as the top anchor. It's been 5 years since BMY traded well above this area. But with the way attention is being placed on immunotherapy stocks, it could be something to keep in...
I see a 5 wave count rising wedge pattern forming on the weekly chart. Short target is $56
A lot of indicators are pointing me to BMY, I grabbed options last week I grabbed $65 strike, expiration Dec 17 because i give myself a lot of time on option plays and always set a stop loss.
The beige line is the level, made by eye. The black line is the level, accurate. Above the first black line (when pinning, you can consider a long one) with the corresponding goals. It is also possible to fall down if this movement is from 2016 to 2019 wave A, and the current triangle is wave B and we are going to wave C. Remember this!
With the bull pennant forming on the weekly and the other indicators kicking in, this has promise.
lol if this pans out greatest gains ever
Since 1969 BMY has been around yes. The fact this is chartable is wild. I think we see 70+ in 2-3 weeks 80+ after that new all time highs. I already am accumulating 700+ OTM options.
Weekly Range Daily Uptrend I do not see signs of strong uptrend. COnsider short Open 68 SL 70 TP 56 RR 2,45
Trade Plan BMY Created 15/06/21 Strategy = Golden X; IY Indicator Trend Analysis TF =1D & 1H; Upper Zone/ etc EP = 67.34 ; CL =64 Risk = 3.34 TP = 70.34 Option Pricing Premium= 1.15; Delta = 0.47 Option Risk= 3.34*0.47*100*2=313.96 Expiry Date = (32D) 16/7/21 Time Stop = (11D)
It is just for fun to draw two parallels lines. It may reach top of the channel soon.