BRM trade ideas
Bristol-Myers Squibb Multi-Decade TrendHighest Probability of Bristol-Myers Squibb Multi-Decade trend.
#BMY - possible Cup and Handle - Edit Alert #BristolMyersWait - until - alert clock - ringringringring.
ABC (Bullish)BMY pays a good dividend and I like the stock
Short ratio fairly low and BMY fell out of it's rising wedge several weeks ago. Since then the short interest has decreased. Earnings are not until August
Possible entry : 56.5
Stop: Under 53.5
Target 1: 65 to 69
Target 2: 78 to 85
Anything is possible so be sure to do your research!
Head and Shoulder in formation on BMYWatch out for a H&S in formation on BMY!!
Disclaimer: This is not an advice to buy or sell!!
BMY, potential shortHi, I just begin my trading course. BMY looks weak and long term side trend. There is no pattern to trade yet, but based on trend lines it seems short position.
BMY | 25 RSI | Profit opportunity | Extremely Bullish The current price of this stock is $56.22; this level is a huge support level if you take a look back to 2014, 2017, 2019. The chances for a huge bounce are very likely.
I was looking at the daily chart it has reached oversold conditions of 25.49, with today closing showing a bullish pin bar. The price has dropped from $65 to $55 since the start of June.
The 200 EMA is at $58, which is very far from the current price. The fib retracement tells us that it has tested the 61.8% retracement at $53.50.
I don't know the long term pattern, but it has to test the 200 EMA before it could go lower. During OCT 2019, we had a gap, and it could be coming back right now to fill that gap.
Trade safe and do your own DD.
BMY - Sitting on Key LevelBMY sitting on potential support at $56 after breakdown from head and shoulders pattern. I believe the market may be headed down, however I will watch to see how BMY treats $56 level, could retest 786 fib. If it closes below $56 tomorrow I would consider taking a short position.
Bristol-Myers (BMY) short.All description on the chart.
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BMY at volume support with strong fundamentalsBristol Myers-Squibb got another FDA approval yesterday to expand the label for its immunotherapy drug Opdivo. The approval isn't a huge deal, but it would have been an upward catalyst on a normal stock market day. BMY remains a highly rated stock by analysts, at just 10 forward P/E, 1.17 PEG, and 3% dividend yield.
One drawback of BMY is that it has a -1.5% ESP prediction from Zacks, which means its slightly more likely than average to miss its next earnings forecast. I also think we're likely to see some negative sentiment on pharmaceuticals as the Democrats show strength at the polls.
My trading plan for BMY is to buy some here, and then triple my position at the $51 volume support node.
BMY Long, Using EMA144 as SupportCondition:
1.Runaway Gap (G1) Shows 40% of this trend.
2.V Pattern
3.demand zone confirmed.
4.Cross Over EMA144
Earning date: 8/6/2020 7:00 AM ET -- Earning will not affect this plan.
Entry: 61
Stop: 59;
Target1: 67; risk/reward=1:3
Target2: 74; risk/reward=1:6
Using EMA144 as Support is one of my long entry script. See the linked Related Idea.
This is a trading school homework. I need few months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Bristol-Myers Squibb Company $BMY clears the buy point$BMR is breaking out the buy point of cup w handle.
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Bristol-Myers Squibb Co [ NYSE: BMY ]Bristol-Myers Squibb Co
Pending Order Placement
Entry Placement 63.18
Take Profit Placement 68.43
Stop Loss Placement 59.68
BMY is worth buyingBristol-Myers Squibb says it has seen no major business disruptions and expects no decrease in global demand for its drugs this year. That means the 3.5% dividend yield should stay stable, and BMY is a great value at 1.3 PEG. BMY also just got FDA approval for a multiple sclerosis drug, which could turn out to be a pretty big deal.
Most of the market has been trading based on macroeconomics, but as individual companies like BMY issue quantitative guidance, I think we're going to see more trading on company specifics. I bought a small position here and will add the dip if BMY heads south with the rest of the market next week.
Darvas Box BreakoutLast Thursday BMY closed on what looked like a Darvas Box breakout, but it wasn't a buy Fri. because it looked like a fake-out. Today it is still breaking upward, so it's looks like a buy after not retreating from the morning high
$Bristol Myers Squibb All Time High TradeEntry level $66.60 = Target price $77.00 = Stop loss $64.50
Areas of interest/resistance $69.55 & $74.14
P/e ratio 18.77
Company profile
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. The company was founded in August 1933 and is headquartered in New York, NY.
