HotForex
Short

BMY is approaching resistance, potential drop!

NYSE:BMY   BRISTOL-MYERS SQUIBB CO
BMY is approaching our first resistance at 52.42 (horizontal swing high resistance, 61.8% , 100% Fibonacci extension , 38.2%, 76.4% fibonacci retracement ) where a strong drop might occur below this level to our first support at 48.25 (horizontal overlap support, 50% fibonacci retracement ).
Stochastic (34,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price.
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