$BMY has been struggling the first half of this year, but things are about to get worse. So far this year, each downward slide has been able to hold Sep/Oct13 resistance line converging with the 61.8% fib from the late Aug13 breakout level. Last week that crucial line was severed aided by the downward pressure of a death cross. This lower low break on high selling...
Wolfe Waves + Strong Support + Hammer Nice Risk/Reward
Drug Manufacturer Brystol-Myers was trending up and topped at $57. At $54 it dropped below key moving averages - for me its point to make adjustments. Recently it has been hovering around 200 EMA and now broke down with conviction on volume above average. The last potential support was at $47.50 but buyers failed to hold it. I think if it will hold below for the...
wait for pullback than in with call 50 , 31 -1
BMY looks like a great buy to me right now, the stock has been on a tear recently although it has been stair-stepping higher (see Apple) which is very healthful for sustaining its rally, the fundamentals on this stock could not be more impressive with a $7 billion drug in the pipeline plus an already multi-billion dollar drug launched last year, the stock is...
long tailed bearish pinbars indicate sell off and prices may consolidate
$40 needs to hold for further price increases otherwise further downside likely
long setup , $41.50 should offer support and buying opportunity if it retraces
long setup , bullish breakout today , stops under $40 if position taken