jevanss25

BMY - One to watch - Wedge?

Short
NYSE:BMY   Bristol-Myers Squibb Company
BMY looks like it could take a tumble.

Im not sure if I will take the trade myself.

But we have the following confluences;

Rising Wedge Pattern
Momentum divergence (Momentum = Lower Highs but Price = Higher Highs)
RSI divergence ( RSI = Lower Highs but Price = Higher Highs)
Volume looks to be on the decline (giving confirmation to the wedge )
Comment: Break of wedge - held on the daily - watch closely