BBBRISTOL-MYERS SQUIBB CO CEDEAR EACH 3 REP 1
19,750ARSD
−300−1.50%
At close at Jun 13, 22:03 GMT
ARS
No trades
BMY trade ideas
[Idea Long] BMY and CELGNice wedge pattern on this. Although it's been in a downtrend, it weathered the past week's volatility quite well, so my guess is sellers are exhausted here in the short-medium term.
This is a $75B global pharmaceutical company, makes a bunch of important drugs, that is trading at 12 P/E and pays 3.5% dividend.
They are acquiring Celgene (CELG), a similar company that trades at 13 P/E. At the deal's closing, holders of CELG stock will receive 1 BMY stock plus $50. An attractive way to play this would be to buy CELG stock, and get assigned BMY plus $50. That adds a bonus $2 per share on the deal's closing.
I had my eye on this but missed the chance to buy the dip. The chart of CELG has a nice looking gap fill:
This could be prove to be a long term entry area.
BMY Is starting a bull moveHey everyone,
Another biomed related post today by request.
BMY has double-bottomed as bulls grab a little control today on price.
The stock has respected the BBands and is looking to move to the neutral region.
The RSI teased in the oversold area, and price has responded with one of the two strong bull movements in the past four weeks as far as price movement goes.
Price will struggle to break the $48.31 resistance that the massive bull volume failed to break on the 29th.
We want to look for increasing bull volume as price recovers after hitting a low.
If bull volume recovers with the next successive days, look at the $48.31 target for the first movement, with the $54 mark if price breaks through for the second movement.
If bear volume trends or increasing in the next few days below the 45.15 support, the stock could break lower forming new lows for the year.
Keep a tight stop loss in the meantime at the lower $45.15 support and long for the 48.31 and eventually the 54.44 if price starts to trend up with volume or if it ventures beyond the restraints of the BBands.
-Block
$BMY Bristol Myers ready for a BULLISH moveBristol-Myers Squibb upgraded to Overweight with a $55 (17% upside) price target at Barclays. Shares up 1% premarket.
Post earnings BMY has had some nice price action, investors liked what the heard from the earnings report and the analysts have started to upgrade the stock as of today. Sentiment in the Pharma sector has been horrendous for months, so maybe a turnaround is on the cards. The price has found a bottom and the indicators have also put a strong base in. We think this is a very safe long with a good RR opportunity.
Company Description
Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It includes chemically-synthesized drugs or small molecules and products produced from biological processes called biologics
BMY appraoching resistance, potential drop! BMY is approaching our first resistance at 54.09 (horizontal swing high resistance, 50% Fibonacci retracement, 100% fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 50.25 (61.8% fibonacci retraecement, horizontal swing low support).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.
BMY approaching resistance, potential drop!BMY is approaching our first resistance at 52.42(horizontal siwng high resistance, 61.8%, 100% fibonacci extension, 76.4%, 38.2% fibonacci retracement) where a strong drop might occur pushing price down to our major support at 48.35 (horizontal overlap support, 50% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
