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Watch for Continued Gains in Shares of Bristol-Myer Sqb (BMY)

By Nick Russo

Shares of Bristol-Myer Sqb (NYSE:BMY) traded at a new 52-week high today of $57.29. Approximately 1.1 million shares have changed hands today, as compared to an average 30-day volume of 8.3 million shares.

Bristol-Myers Squibb Company is a global biopharmaceutical company. The Company develops, licenses, manufactures, markets, and sells pharmaceutical and nutritional products. Bristol-Myers Squibb products and experimental therapies address cancer, heart disease, HIV and AIDS, diabetes, rheumatoid arthritis, hepatitis, organ transplant rejection, and psychiatric disorders.

In the past 52 weeks, Bristol-Myer Sqb share prices have been bracketed by a low of $42.48 and a high of $57.29 and are now at $57.08, 34% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 1.05% higher over the past week, respectively.

Potential upside of 2.6% exists for Bristol-Myer Sqb, based on a current level of $57.08 and analysts' average consensus price target of $58.56. The stock should discover initial support at its 50-day moving average (MA) of $50.57 and subsequent support at its 200-day MA of $48.28.

SmarTrend is tracking the current trend status for Bristol-Myer Sqb and will alert subscribers who have BMY in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows bristol-myer sqb

Ticker(s): BMY