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
Up trend line break
Earning 7/28/2022 Estimate 1.90
Short 75
Stop 79
Target 70, 60, 54
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
The PEAD projected a Bullish outlook for $BMY after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 66.67%.
Order SELL BMY NYSE Stop 68.08 LMT 68.08 will be automatically canceled at 20230401 01:00:00 EST
BMY daily bearish hammer wave 3 downtrend below moving average 200
And we are going down. Most of the C Wave is probably done, but there is still profits to be made with good certainty. C Wave finishing itself off more or less. Fibgoals in place.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in...
Bristol-Myers Squibb Co
Short Term - We look to Buy a break of 72.34 (stop at 70.99)
Price action has formed a bullish ascending triangle formation. This is positive for sentiment and the uptrend has potential to return. Neckline resistance 72.00. A break of the neckline is required to confirm the formation. Further upside is expected.
Our profit targets...
Nice and sweet long day bearish on daily, look at this volume. Trying to catch retracement on MA 100 and short it down till the end of the gap and even lower.
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 42.86%.
BMY is within a nice upward channel due to this cup and handle formation
The lower band of the megaphone pattern can be seen to be acting as the neckline of the Cup and Handle (amazing)
Price should complete the Cup and Handle and move up to the top of the channel
Good evening.
Fundamental analysis of the company was published in Seeking Alpha.
I expect Bristol-Myers Squibb shares to correct in the $68-$69 per share range.
Disclosure: This article may not take into account all the risks and catalysts of the assets described in it. Any part of this analytical article is provided for informational purposes only, does not...
