Bristol-Myers Squibb Company (BMY) “On a long-term technical basis, the stock (BMY) is trading below its 200-day moving average which generally implies it is in a negative trend.

The stock has support at 54.07 and 47.25. If the stock breaks down through support at 54.07 then it will probably continue lower to 47.25. The stock has resistance at 58.78 and 62.17. If the stock breaks up through resistance at 58.78 then it will probably continue higher to 62.17. The 200-day moving average is at 58.78. This will also act as resistance. The stock’s long-term uptrend has changed into a sideways or downtrend. In this case, the stock will either go sideways for a while or sell-off back to where it started prior to the latest big upmove. This is a risky time to buy the stock, so be careful. Wait for the trend to change to bullish before entering. Use caution during times like these, as the stock will be more volatile. Confirm with the TMTI Indicator, Short-Term and Immediate Outlook for help entering. The stock is neutral according to the Stochastic Indicator (42.41).”