Reasons for bullish bias:
- Double bottom formation
- Entry is at neckline, for further confirmation
- Price testing support
- Divergence also indicating a possible reversal
Entry Level(Buy stop): 53.14
Stop Loss Level: 47.38
Take Profit Level 1: 57.74
BMY is within a nice upward channel due to this cup and handle formation
The lower band of the megaphone pattern can be seen to be acting as the neckline of the Cup and Handle (amazing)
Price should complete the Cup and Handle and move up to the top of the channel
An upward breakout of the long-term resistance level could lead to an increase in the area of 81. In the long-term, the growth could continue to the area of 93.
Trade Idea
Enter Long
- Ideal price is $64-$66
Stop Loss
- $64.4
Profit Target
- $70-$71
ARK fund is dumping Bristol-Myers Squibb (BMY), should you?
Yet another solid company with solid financials who is currently trading at 65.6% below estimated fair values. Earnings are forecasted to grow 30.88% per year. This stock also pays out a reliable dividend of...
Bristol 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...
BMY pattern confirmation Symmetrical triangle , the price is above the MA50 and MA200 support averages of the daily frame.
BMY buy : $63.5 +- 0.5
BMY target : $77.78
Stop loss : $60 (5-6%)
Wish you a good deal!
What up you crazy mother-flowers !!!!!!
Check out BMY on the freaking long term chart!!!
= Cup-N-Handle on the monthly chart and targets on the chart>
= Also the weekly chart you see a possible Rising 3 methods in the making above 20-moving-average but not confirmed yet>
= You will find Inverse head and shoulders on the Daily/Weekly chart witch is working on the...
BMY is approaching our first support at 47.85 where we might see a bounce in price to our resistance at 51.12. Stochastic is also approaching support where we might see a corresponding bounce in price.
BMY is approaching our first resistance at 52.42(horizontal siwng high resistance, 61.8%, 100% fibonacci extension, 76.4%, 38.2% fibonacci retracement) where a strong drop might occur pushing price down to our major support at 48.35 (horizontal overlap support, 50% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a...
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...
BMY is approaching our first resistance at 52.39(horizontal swing high resistance, 100% fiboancci extension, 76.4%, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 48.35 (horizontal overlap support, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we...
