BMY - sideways to upward movement - yearly chart
I was wrong on BMY before and I hope I'm not wrong again.
On a yearly chart, we have all sorts of fun things going on. We had a double top in March followed by a downward trend after weak earnings. After the post earnings bleeding stopped, we get a triple bottom. Downward trend line was broken before earnings. In addition, before earnings, we had the stock go over the 20 and 50-day MA. Post earnings catapulted the stock to fill a gap and also gave us the bullish 20-day crossing above the 50-day. Lastly, BMY recently crossed the 200-day, then pulled back under it, but may have found support at this MA.
If BMY can stay around this area, I think BMY can go sideways, or dare I say it, continue upward.
On a yearly chart, we have all sorts of fun things going on. We had a double top in March followed by a downward trend after weak earnings. After the post earnings bleeding stopped, we get a triple bottom. Downward trend line was broken before earnings. In addition, before earnings, we had the stock go over the 20 and 50-day MA. Post earnings catapulted the stock to fill a gap and also gave us the bullish 20-day crossing above the 50-day. Lastly, BMY recently crossed the 200-day, then pulled back under it, but may have found support at this MA.
If BMY can stay around this area, I think BMY can go sideways, or dare I say it, continue upward.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.