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BRISTOL MYERS SQUIBBRISTOL MYERS SQUIBBRISTOL MYERS SQUIB

BRISTOL MYERS SQUIB

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BMY.USD trade ideas

Long Bristol Myers for 2021 and beyond- Technical w/FundamentalBristol Myers is in a great position both fundamentally and technically. Time horizon is 1-2 years. Technical: Ascending Triangle with Price above the 30-day and 210-day simple moving averages. This could squeeze into the previous highs set in 2018 and 2016 (~$75). We want to see the price continue to stay above these averages as well as the trend line connecting the recent higher lows. Fundamental: -Recent Celgene acquisition adds $18B in revenue and diversifies BMY's product portfolio. Before the acquisition, BMY's Top 3 Drugs made up almost 75% of its total revenue. After the acquisition this same ratio is only 43%, decreasing BMY's reliance on its top 3 drugs. -Last three years the average P/E based on operating earnings for BMY has been 14.21, and at their current price they are trading at a 9.79, suggesting they may be currently undervalued. -Dividend of $1.92 or 3.14% yield -21.41% Adjusted Operating Earnings growth rate -A+ S&P credit rating Price Target = $100-110
NYSE:BMYLong
by kylespangladesh
How to Develop a Short Trade using Top-Down AnalysisGood morning traders! Today we want to show you a practical case of how to apply multiple timeframes for the complete development of a trade. In this case it is BMY stock, and it is a trade that we ourselves will take if what we are expecting happens. 🔸What can we find in this chart? - First, what we can see is that in the 4H timeframe, the price has been moving in a range of 15-20% since May. - A few days ago, the price faced the resistance zone that is around $64-66. We consider it a resistance zone since every time the price reaches that level, it encounters a strong supply, which generates its subsequent downward movement. - Based on this, we decided that once a clear rejection was given, we would look for an opportunity to take a short trade. 🔸Descending to the 15Min chart, we see that after the rejection in the Resistance zone, the price generates a breakout of the Ascending Trendline. - Added to this behavior, the Support zone is penetrated strongly to the downside, and then the price consolidates forming a corrective structure in a pullback to the Resistance zone (previous support). - This is our opportunity to look for a short trade. - The corrective structure offers us a correct and safe R/R ratio. - The point where we will look for the entry of the trade will be in the breakout of the local low, with a stop loss behind the structure and the resistance zone. - And finally, the maximum target of the movement is the uptrend line.
NYSE:BMYEducation
by ThinkingAntsOk
Wedge peak aheadOpened a position today when the price bounced off the daily MA50. Currently it sits right on a support line which also acted as a resistance the last couple of month. Since it just broke through that resistance a week ago I see the current pullback as a retest of this area so that it becomes support. On the weekly I recognised a slightly rising wedge (please let me know if it is feasible to ignore the breakdown in march - the circled one). The PA needs to make a decision which way it wants to break the wedge cause we are getting close to its peak. I believe in an upward move since the trend seems to me slightly bullish. Entry: 60.85 TP1: 65 TP2: 68 SL: 57
NYSE:BMYLong
by ape_mo
2