Short term view - BRISTOL-MYERS SQUIBB CO : The target has been reached.
Peaks and troughs overlap, they still define a bearish trend but it could also be an exhaustion. The next target is at $50.300. The invalidation level is above$63.400.Arguments :
- The major support has been reached.
- The target has been reached.
- The volume is exceptional.
- The bearish gap opened as prices break out of the pattern announces a fall.
Bristol-Myers Squibb is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The company's products are sold worldwide, primarily to wholesalers, specialty distributors, retail pharmacies, hospitals, government entities and the medical profession. The company manufactures products in the United States and Puerto Rico and has manufacturing operations in two foreign countries. The company has products in the following therapeutic classes: hematology, oncology, cardiovascular and immunology. The company's pharmaceutical products include chemically-synthesized or small molecule drugs and products produced from biological processes, called biologics.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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