BMY breaking out of all time highBreaking out of all time high. If not rejected, first target is around $92
BMY.USD trade ideas
$BMY with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $BMY after a Negative Under reaction following its earnings release placing the stock in drift D
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BMY LONG RPRICE TARGET TRUIST SECURITIESPrice bounde on tendency line on a big green bar, we also have price target $70 from truist, Resistance is also present
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$BMY BreakoutBMY looking to breakout from Jan 2020 run-up. Over all major EMAs. Active Sequence engaged on March 17, 2021 (8 over the 21). Additionally, looking at the Andrew Pitchfork it shows significant respect going back to 1994. Lastly, over the weekly POC from Volume Profile perspective and seems to be breaking out of the range. Initial price targets $70.12 and $77.88.
Small Short idea Not my usual trade but BMY does not have enough Vol for me to get decent premium selling a credit spread here.
Technical Confirmation - Break below Broadening formation (or previous bars low)
Execution: Short 50 shares - Stop at 66.20 - TP @ 63.31
BMY PatternceptionBMY is in a Long term positive uptrend. Having broken out of a negative channel recently, it broke out with decent volume of the negative channel, signifying a potential end. I wouldn't call the next negative channel a flag because it is overextended, but it is there. A selloff that was right about to enter the previous negative channel, but bounced off of it with again, average volume. We then began to rise in an upward direction for what I initially thought was a channel, but I believe it is a rising wedge.
I opened an iron condor set with some tight parameters. $64-$65 on the call side and $62-$61 on the put side, $100 in collateral. I am looking to have a staggered exit strategy. I will close the put credit spread tomorrow morning at 50%, and ride the call credit spread train down. My bet is It will not go any higher, and tomorrow's trading day (3/23/21) will be a slow one in my opinion, with the stock testing $62.30, which is very likely to break. If you are a less risky trader, wait for a volume confirmation below the channel. I expect a fat drop to the $61 levels. It needs to cross fib levels to get to $60, which I haven't applied for simplicities sake
Define your losses, define your risks, and use my chart as a template! I left some smaller patterns in there for you to practice. Hint: think Continuation patterns or Reversal patterns
Good luck out there!
BMY - 30min charthpc software discovered a CRAB pattern so :
SHORT around 63.00
T1 61.75
T2 61.00
SL closing above
BMY is Potentially at a Good Buy Point. I have been watching BMY for a while waiting for a good entry point, I believe that is here. Granted, this is assuming overall downward market pressure does not result in BMY also going down. First, the MACD indicates positive movement. Second, there is bullish divergence in one month RSI. Third, BMY has been in an upward channel since the beer-virus crash and it is touching the bottom of the channel. Finally, BMY has support from the 200 day moving average. You likely will not win big on this in the short-term, but assuming you have confidence in upward market movement this will soon be a good time to buy in if you want to get some profits and secure dividends long-term. I suggest waiting for BMY to break the upwards resistance at about $61.35 to be safe if you plan on buying.
Not financial advice, I am just a retard talking about numbers on the internet.
BMY - Possible Long Swing TradeBMY is currently testing support in a large channel. Bearish pressure is visibly waning (see MACD) however bulls still needs to prove it's ready to change direction by breaking and closing at least a 4 hr to the upside of the orange trendline. We can remain bullish with a quick wick down to the lower trendline where we found the lows on June 15 and October 29 before breaking up however I would like to see this get bought up very quickly. If we break below 56.76/share for any time frame, I'd immediately turn short term bearish. Bullish target price: 67.84/share. Risk to reward ratio: 4 to 1.
***not financial advice
BMY - Channel PlayTrendline support with MACD starting to curl back to the upside. Easy play, with good risk to reward ratio
$BMY with a bearish outlook following its earnings #BeststocksThe PEAD projected a bearish outlook for $BMY after a negative under reaction following its earnings release placing the stock in drift D
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
BMY support level.First bounce likely here.
Keep watching for a cosolidation or double bottom or +ve divergences.
Weekly MACD is not in good shape.
