BMY trade ideas
$BMY EntryLooking for an entry at the current close of $61.99. 5-year chart and 1-year chart are both holding their 200 day SMA. 2% dividend yield as well. Worth a position with a stop below $60
Breakout & Waiting for retest to buyRising Channel, Breakout Rectangle, Supply and Demand, Good Price Action.
BRISTOL MEYER - US PHARMA STOCK BREAKING OUTBuying dips on BMS Stock. Watch for the 55.20-54.70$ area.
I am targeting for now 60$ and stop should not be placed too far away. 53/52$ seems reasonable to have a nice R:R.
Hourly Chart:
Watch the corrective channel, this might setup a nice long opportunity.
Blessings to you all.
BMY Early Trade BULL, about to breakoutBMY is showing a potential breakout with a great reward to small risk. My indicator is showing extremely oversold conditions and pair those conditions with the strong supports on the chart. I believe we will have a reversal!!! Buy in early to get a great price!!
BMY multiple confluence for long sideBMY looks like it is testing neckline of double bottom. Also looks like a breakout of a flag pattern. It could be going into a Elliott wave 3.
$BMY could set up possible bull flag over yesterday's highBMY could set up possible bull flag over yesterday's high
$BMY – Massive Monthly Double Top In Progress?Bristol Myers Squibb, Co. ($BMY) Weekly: After a big drop in price mid 2016, $BMY further corrected through 2017, following a fairly well outlined ABC movement, and now appears to be in a downward Motive Elliot Wave pattern. Fib extensions show a possible move down to around $38, then a further move down to $32 to revisit old support levels, set back in a lengthy sideways move between 2013-2011. We should see some support near the $48 area in the near term, where there is this 8 year trendline support, but failing to hold that level, I would expect it to hit its Fib/EW targets as shown.
Bristol Myers Squibb, Co. ($BMY) Monthly: Looking at the monthly chart outlines just how far $BMY can go. After having hit this massive monthly double top back in July of 2016, with the other head having established itself back in late 1999, it seems likely that we will see lower levels going forward for Bristol Myers. Now, it should be noted that not all tops come to realization just because one seems to exist, and the chart appears to be pointing that way – if that was the case, the markets would always stall out and move sideways, making slow upward moves over time. The key levels noted above in the weekly chart are points where $BMY can turn and move higher. For example, it CAN bounce off that trendline support and make an inverse Head and Shoulders and move back to the $68 levels and beyond. Keep eye on these levels and if they are violated or held. That will be the key to its next moves.
