How the price action of Bristol-myers Squibb (BMY) is used to our Advantage

August 06, 2021, 20:15 pm ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Bristol-myers Squibb (NYSE: BMY) data table below can help you with price action, and we have more details too. Trading plans for BMY are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for BMY

• Buy BMY slightly over 66.08 target 68.63 stop loss @ 65.89 Details

The technical summary data tells us to buy BMY near 66.08 with an upside target of 68.63. This data also tells us to set a stop loss @ 65.89 to protect against excessive loss in case the stock begins to move against the trade. 66.08 is the first level of support below 68.12 , and by rule, any test of support is a buy signal. In this case, support 66.08 is being tested, a buy signal would exist.

• Short BMY under 68.63, target 66.08, stop loss @ 68.83 Details

The technical summary data is suggesting a short of BMY as it gets near 68.63 with a downside target of 66.08. We should have a stop loss in place at 68.83though. 68.63 is the first level of resistance above 68.12, and by rule, any test of resistance is a short signal. In this case, if resistance 68.63 is being tested, a short signal would exist.

Swing Trading Plans for BMY

• Buy BMY slightly over 68.30, target 68.63, Stop Loss @ 68.1 Details

If 68.30 begins to break higher, the technical summary data tells us to buy BMY just slightly over 68.30, with an upside target of 68.63. The data also tells us to set a stop loss @ 68.1 in case the stock turns against the trade. 68.30 is the first level of resistance above 68.12, and by rule, any break above resistance is a buy signal. In this case, 68.30, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short BMY near 68.30, target 66.08, Stop Loss @ 68.5. Details

The technical summary data is suggesting a short of BMY if it tests 68.30 with a downside target of 66.08. We should have a stop loss in place at 68.5 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 68.30, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for BMY

• Buy BMY slightly over 68.33, target 68.63, Stop Loss @ 68.17 Details

If 68.33 begins to break higher, the technical summary data tells us to buy BMY just slightly over 68.33, with an upside target of 68.63. The data also tells us to set a stop loss @ 68.17 in case the stock turns against the trade. 68.33 is the first level of resistance above 68.12, and by rule, any break above resistance is a buy signal. In this case, 68.33, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short BMY near 68.33, target 66.08, Stop Loss @ 68.49. Details

The technical summary data is suggesting a short of BMY if it tests 68.33 with a downside target of 66.08. We should have a stop loss in place at 68.49 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 68.33, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

BMY Ratings for August 06:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Neutral
P1	0	0	63.62
P2	68.33	68.30	66.08
P3	69.11	69.40	68.63

Support and Resistance Plot Chart for BMY

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