How the (BMY) price action is used to our Advantage
June 08, 2024, 10:34 am ET, BY Bill- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for BMY
- Buy BMY slightly over 40.4 target 44.09 stop loss @ 40.28 Details
The technical summary data tells us to buy BMY near 40.4 with an upside target of 44.09. This data also tells us to set a stop loss @ 40.28 to protect against excessive loss in case the stock begins to move against the trade. 40.4 is the first level of support below 41.48 , and by rule, any test of support is a buy signal. In this case, support 40.4 would be being tested, so a buy signal would exist.
- Short BMY slightly under 44.09, target 40.4, stop loss @ 44.22 Details
The technical summary data is suggesting a short of BMY as it gets near 44.09 with a downside target of 40.4. We should have a stop loss in place at 44.22though. 44.09 is the first level of resistance above 41.48, and by rule, any test of resistance is a short signal. In this case, if resistance 44.09 is being tested, so a short signal would exist.
Swing Trading Plans for BMY
- Buy BMY slightly over 41.64, target 44.09, Stop Loss @ 41.52 Details
If 41.64 begins to break higher, the technical summary data tells us to buy BMY just slightly over 41.64, with an upside target of 44.09. The data also tells us to set a stop loss @ 41.52 in case the stock turns against the trade. 41.64 is the first level of resistance above 41.48, and by rule, any break above resistance is a buy signal. In this case, 41.64, 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 slightly near 41.64, target 40.4, Stop Loss @ 41.76. Details
The technical summary data is suggesting a short of BMY if it tests 41.64 with a downside target of 40.4. We should have a stop loss in place at 41.76 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, 41.64, 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 41.73, target 44.09, Stop Loss @ 41.63 Details
If 41.73 begins to break higher, the technical summary data tells us to buy BMY just slightly over 41.73, with an upside target of 44.09. The data also tells us to set a stop loss @ 41.63 in case the stock turns against the trade. 41.73 is the first level of resistance above 41.48, and by rule, any break above resistance is a buy signal. In this case, 41.73, 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 slightly near 41.73, target 40.77, Stop Loss @ 41.83. Details
The technical summary data is suggesting a short of BMY if it tests 41.73 with a downside target of 40.77. We should have a stop loss in place at 41.83 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, 41.73, 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.
Check the time stamp on this data. Updated AI-Generated Signals for Bristol-myers Squibb Company (BMY) available here: BMY.
BMY Ratings for June 08:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Weak |
Weak |
| P1 |
0 |
0 |
40.4 |
| P2 |
40.77 |
40.1 |
44.09 |
| P3 |
41.73 |
41.64 |
47.83 |
AI Generated Signals for BMY
Blue = Current Price
Red= Resistance
Green = Support
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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 Company (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.
Fundamental Charts for BMY:
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