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Bearish Moving Average Cross by Bristol-Myers Squibb (BMY)

By Shiri Gupta

Today, shares of Bristol-Myers Squibb (NYSE:BMY) have fallen below their 10-day MA of $74.08 on a volume of 36.0 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Bristol-Myers Squibb share prices have been bracketed by a low of $51.82 and a high of $77.12 and are now at $62.83, 21% above that low price. The 200-day and 50-day moving averages have moved 0.06% higher and 1.01% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Bristol-Myers Squibb on April 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.20. Since that recommendation, shares of Bristol-Myers Squibb have risen 13.8%. We continue to monitor BMY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Bristol-Myers Squibb

Ticker(s): BMY