BMYS trade ideas
BMY Pending Breakout LongBMY gapped up this morning showing good strength. Targeting the 52 week highs above.
$BMYAmazing chart its looking beautiful, volume is coming in nicely a break and potential Wave 1, 2 that aligns with larger degree fibs, remind me of Uber before it took off for its ATH , amazing find by Tomikazi entily a pure gold play overall same targets my chart is a little more bullish but i am loving it! Volume average is increasing and ER is coming up also!
Long Bristol Myers for 2021 and beyond- Technical w/FundamentalBristol Myers is in a great position both fundamentally and technically. Time horizon is 1-2 years.
Technical:
Ascending Triangle with Price above the 30-day and 210-day simple moving averages. This could squeeze into the previous highs set in 2018 and 2016 (~$75).
We want to see the price continue to stay above these averages as well as the trend line connecting the recent higher lows.
Fundamental:
-Recent Celgene acquisition adds $18B in revenue and diversifies BMY's product portfolio. Before the acquisition, BMY's Top 3 Drugs made up almost 75% of its total revenue. After the acquisition this same ratio is only 43%, decreasing BMY's reliance on its top 3 drugs.
-Last three years the average P/E based on operating earnings for BMY has been 14.21, and at their current price they are trading at a 9.79, suggesting they may be currently undervalued.
-Dividend of $1.92 or 3.14% yield
-21.41% Adjusted Operating Earnings growth rate
-A+ S&P credit rating
Price Target = $100-110
BMY - EW analysis - Bull count BMY - It is in 3rd of C of Y wave up. Buy in pull back with stop level below 59.90 for target above 67.
Give thumbs up if you really like the trade idea.
BMY - EW analysis - Bull count BMY - It is in double zigzag up move from major bottom. The C of Y wave is in progress, wait for 2nd wave pull back to get in to buy set up for target above 67 to finish the whole cycle with stop level below 59.90.
Give thumbs up if you really like the trade idea.
SHORT BMY R:R = 6.44A bit of an aggressive target, around 57 might want to take some profits if it gets there.
$BMY with a slight bearish outlook The PEAD projected $BMY with a slight bearish outlook after a negative under reaction following its earning release placing the stock in Drift D
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BMY -30m chart After achieving the first target, prices return to the potential reversal zone
Therefore, buying 61.70 to 61.45
T1 63.40
T2 64.40
SL closing under 6065
How to Develop a Short Trade using Top-Down AnalysisGood morning traders!
Today we want to show you a practical case of how to apply multiple timeframes for the complete development of a trade. In this case it is BMY stock, and it is a trade that we ourselves will take if what we are expecting happens.
🔸What can we find in this chart?
- First, what we can see is that in the 4H timeframe, the price has been moving in a range of 15-20% since May.
- A few days ago, the price faced the resistance zone that is around $64-66. We consider it a resistance zone since every time the price reaches that level, it encounters a strong supply, which generates its subsequent downward movement.
- Based on this, we decided that once a clear rejection was given, we would look for an opportunity to take a short trade.
🔸Descending to the 15Min chart, we see that after the rejection in the Resistance zone, the price generates a breakout of the Ascending Trendline.
- Added to this behavior, the Support zone is penetrated strongly to the downside, and then the price consolidates forming a corrective structure in a pullback to the Resistance zone (previous support).
- This is our opportunity to look for a short trade.
- The corrective structure offers us a correct and safe R/R ratio.
- The point where we will look for the entry of the trade will be in the breakout of the local low, with a stop loss behind the structure and the resistance zone.
- And finally, the maximum target of the movement is the uptrend line.
BMY LongWeekly Wedge Breakout + Retest
Entry 63
Stop 61
target: 76;
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
BMY: Contracting TriangleContracting Triangle
Please don't forget to FOLLOW, LIKE, and COMMENT ...
If you like my analysis:)
Thank you and Good Luck!
BMS, you guessed it, going down. NYSE:BMYA complex correction, looking to continue. Down we go. Seeking to test or break the floor first and then the two fib goals traced. Not financial advice.
I Recommend SELLING !BMY Will Decline Next Days
I Advais You To Sell It Now
The Target 58.20 USD
SToopLoss 66.12 USD
BMY accumulate on weakness -$55 CallsBMY might be ready to snap as it oscillates into earnings. Going to buy into weakness with a code red below $55 (unless this is post election over reaction)
WEEKLY ANALYSIS OF BRISTOL-MYERS SQUIBB COHI FRINDS
i recomend to keeping this stocks and too buy for this week
BMY - Elliottwave analysis BMY - It is in zigzag ABC wave of (Y) wave down cycle in complex correction and under-performing the SPX. Sell near 61.00-61.70 zone with stops above 62.45 for initial target below 57 level. Overall (Y) wave will end at around 54 or lower level.
Give thumbs up if you really like the trade idea.
