Bristol Myers Squibb (NYSE: NYSE:BMY ) finds itself at a crossroads as it grapples with disappointing quarterly results and the announcement of significant workforce reductions. The pharmaceutical giant reported a first-quarter loss driven by charges related to recent acquisitions, sending its stock tumbling by 8%.
Quarterly Performance:
Bristol Myers'...
BMY is here on the daily chart. The double top and death cross of the EMA moving averages
makes for a strong candidate to short with shares or take put options. A comparsion of the
most recent earnings report with the previous one sixty days earlier tells most of the story.
The dual time frame RSI indicator shows ongoing wekaness. I will short BMY here and...
Bristol-Myers Squibb Co. has recently released its first-quarter report for 2024, facing significant financial hurdles due to a high debt load of USD 37bn. With the current high interest rates set by the Federal Reserve, this level of indebtedness could severely constrain the company's ability to grow and invest in new innovations. Adding to its challenges,...
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
NYSE:BMY built a solid base and should be ready for a breakout about the 53.5$ mark, either long the breakout or enter if it pulls back to 10 MA before breaking out. Anticipated price action and targets as shown on the chart. Stop is a bit tricky, aggressive stop daily close below 20 MA and normal stop daily close below 50 MA.
P.S. Only my views, not financial advice
Watching the present area of around $53.50 which has been major resistance on several occasions.
Need it to break through with above average volume. Recently crossed the 50-day MA. If it can't break through resistance, I am hoping that the 50-day is new support level.
Beaten down stock. At the very least, I believe that the worst days are behind us.
BMY is one of my more recent value additions to the stock portfolio, I was able to snag this around the lows and the stock is breaking out today. Value will have its day and a few stocks are already moving. Once you obtain a certain net worth, safety becomes more important than just flat out growth and performance.
-Short-term 55$ target remains
-60.8$ is my...
I like NYSE:BMY here. I already own shares, but am adding a call spread.
Obviously, I am chasing short-term a bit, which is not generally a good idea. In this case I am willing to take the risk because of the overhead gap in volume (it's not a true gap, of course), and the fact that the stock seems ready to break its long-term down trend.
Fundamentally, I...
NYSE:BMY - bullish chart
Mean ^
Var ^
Autocorrelation crossed 0 into positive territory, which means trending
Last indicator shows a measure of information; the higher the information, the higher the uncertainty. You want to be trading when the indicators is decreasing.
If the monthly 200 holds as macro support, we could see a retrace bounce back to meet the monthly 12ema which is descending from 56.75.
If there's an entry here for me, it won't be before a confirmed hourly trend change.
Monthly RSI is attempting a bounce just ahead of fully oversold conditions.
BMY had a great earnings report on this undervalued stock, I did cut PFE shortly after entering it a few weeks ago to all-in on BMY as my pharmaceutical exposure. I believe this will be a great value play all year. My short-term target is still 55$, but 60$ is definitely in the cards as the price was way below fundamentals.
Hello TradingView Family / Fellow Traders,
On Monthly: Left Chart
BMY has been hovering inside a range between the 50 support and 70 resistance.
Currently BMY is approaching the lower bound of the range, so we will be looking for buy setups on lower timeframes.
On Daily: Right Chart
📈 For the bulls to take over, we need a momentum candle close above the...
I believe 2024 will be a year of value stocks. With such great tech performance last year it is getting harder to find opportunity in the market. I tend to be very comfortable buying into what people hate, I added a large amount of PFE recently hoping for it to play out how Verizon did for me last year. I am consolidating some risk from my stock portfolio into...
