After Yesterday's Rally of 1.31% Shares Could Potentially Pullback
Bristol-Myers Squibb (NYSE:BMY) traded in a range yesterday that spanned from a low of $75.48 to a high of $76.38. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $75.84 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 13.9%. We continue to monitor BMY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of Bristol-Myers Squibb have traded between a low of $51.82 and a high of $76.30 and are now at $76.29, which is 47% 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%.
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