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

By David Diaz

Today, shares of Bristol-Myers Squibb (NYSE:BMY) have crossed bullishly above their 10-day moving average of $71.05 on a volume of 659K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher 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 $73.06 and are now at $71.17, 37% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

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 6.8%. 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