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BMY

BMY- a large cap pharm loosing market cap SHORTBMY is here on the daily chart. The double top and death cross of the EMA moving averages makes for a strong candidate to short with shares or take put options. A comparsion of the most recent earnings report with the previous one sixty days earlier tells most of the story. The dual time frame RSI indicator shows ongoing wekaness. I will short BMY here and take some call options as well. I am in LLY long in a big position. This will be a race in opposite directions for two large cap pharmaceuticals.
NYSE:BMYShort
by AwesomeAvani
Bristol-Myers Squibb aims to navigate financial challengesBristol-Myers Squibb Co. has recently released its first-quarter report for 2024, facing significant financial hurdles due to a high debt load of USD 37bn. With the current high interest rates set by the Federal Reserve, this level of indebtedness could severely constrain the company's ability to grow and invest in new innovations. Adding to its challenges, Bristol-Myers Squibb is also nearing the expiration of patent protections for several of its key drugs, including Eliquis, Opdivo, and Revlimid. Despite these macroeconomic pressures, the company remains committed to its research and development endeavours, having secured FDA approval for multiple drugs over the past year. Bristol-Myers Squibb is optimistic about the future, projecting that its new products could generate annual revenues of up to 25 billion USD by 2029. Exploring potential investment opportunities, let’s review the technical analysis for Bristol-Myers Squibb Co. (NYSE: BMY): On the Daily (D1) timeframe, the stock shows resistance at 49.55 USD and support at 44.35 USD. Over the past year, the stock has declined by 36%, but there is a noticeable deceleration in the downtrend. A break above the resistance at 49.55 USD could signal a potential reversal of this trend. If the downward trend continues, the next target could be around 41.50 USD. For traders, surpassing the 49.55 USD resistance level presents a potential buying opportunity, with a short-term target of 54.60 USD. For those looking at a medium-term investment, maintaining a long position with a target of up to 63.60 USD may be advisable. — Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews. The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments. Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
NYSE:BMY
by RoboMarkets
Bristol Myers Posts Q1 Loss, Revenue Rises 5% Stock Dives 8.35%Bristol Myers Squibb (NYSE: NYSE:BMY ) finds itself at a crossroads as it grapples with disappointing quarterly results and the announcement of significant workforce reductions. The pharmaceutical giant reported a first-quarter loss driven by charges related to recent acquisitions, sending its stock tumbling by 8%. Quarterly Performance: Bristol Myers' first-quarter loss, attributed to charges associated with acquisitions including Karuna Therapeutics, RayzeBio, and Mirati Therapeutics, amounted to $4.40 per share. While analysts had anticipated a loss of $4.41 per share, the company's net loss reached $5.89 per share. Despite the loss, revenue rose by 5% to $11.87 billion, surpassing analyst estimates of $11.48 billion. Strategic Restructuring: In a bid to streamline operations and save costs, Bristol Myers ( NYSE:BMY ) announced plans to slash its workforce by 6%, affecting approximately 2,200 employees. The restructuring aims to generate $1.5 billion in savings by the end of next year. CEO Christopher Boerner emphasized the company's commitment to long-term growth despite near-term challenges posed by patent expirations and pricing pressures. Challenges and Opportunities: Bristol Myers ( NYSE:BMY ) faces headwinds from impending patent expirations for key drugs like Eliquis and Opdivo, compounded by pricing negotiations and generic competition. To offset these losses, the company has pursued strategic acquisitions to bolster its pipeline and expand its portfolio. However, disappointing sales of certain products, including Camzyos and Sotyktu, underscore the urgency of driving innovation and diversification. Financial Outlook: The company revised its adjusted profit forecast for 2024 dramatically, now expecting earnings between 40 cents and 70 cents per share compared to the previous guidance of $7.10 to $7.40 per share. Despite the downward revision, analysts remain optimistic about Bristol Myers' ability to rebound, with full-year earnings estimates hovering around 66 cents per share. Investor Response: The announcement of workforce reductions and the revised earnings forecast sent shockwaves through the market, causing Bristol Myers' shares to plummet by nearly 8%. The market capitalization took a hit, shedding approximately $7 billion as investors digested the implications of the company's restructuring efforts amidst challenging market conditions.
NYSE:BMY
by DEXWireNews
BMY - Patience is a Virtue 🧘Hello TradingView Family / Fellow Traders, On Monthly: Left Chart BMY has been hovering inside a range between the 50 support and 70 resistance. Currently BMY is approaching the lower bound of the range, so we will be looking for buy setups on lower timeframes. On Daily: Right Chart 📈 For the bulls to take over, we need a momentum candle close above the last major high in gray at 54. 📉 Meanwhile, BMY would be bearish and can still trade lower to dive inside the 44-50 support zone before trading higher. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
NYSE:BMY
by TheSignalyst
1
BMY to break through double top?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 Resistance: 69.00 / 70.00 / 71.07 Support: 67.80 / 66.00 / 65.30 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:BMYLong
by VantageMarkets
BMY in a bearish flag continuation pattern.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 downside. Our profit targets will be 59.18 and 58.18 Resistance: 68.00 / 70.00 / 72.00 Support: 65.28 / 63.00 / 60.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:BMYShort
by VantageMarkets
Pivot confirmed on Bristol-Myers-Squibb. BMYAnd 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 red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
NYSE:BMYShort
by Rykin_Capital
Bristol-Myers Squibb: The Beginning of a CorrectionGood 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 constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental/technical criteria or events change in the future, I do not assume any obligation to update this article.
NYSE:BMYShort
by NathanLive
1
$BMY to the mid-low $60s?$BMY has held up remarkably well during the market sell off. That said, I don't think that it's going to escape the downside for that much longer. We've tested the $77-78 region multiple times and just rejected again. Seeing the price action today makes me think that it's finally time for BMY to fall lower. Once $BMY breaks $75, there's not much holding it up. I think we could see a fairly quick move down to the $60 range, at $65 which would be the first support and $61 which would be the second support. There's a chance it falls into the $50s but I'll likely take profits in the $60s as it's rare for BMY to have such a substantial drop. Let's see what happens over the coming days/weeks.
NYSE:BMYShort
by benjihyam
2
BMY going South with a breeze. BMYImmediate targets 61, 59, 56, 53. Invalidation at 79. 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 red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
NYSE:BMYShort
by Rykin_Capital
1