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After Yesterday's Rally of 2.18% Shares Could Potentially Pullback

By Shiri Gupta

Bristol-Myer Sqb (NYSE:BMY) traded in a range yesterday that spanned from a low of $54.24 to a high of $55.15. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $54.39 on volume of 3.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Bristol-Myer Sqb has traded in a range of $49.96 to $70.05 and is now at $55.04, 10% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1%.

SmarTrend is monitoring the recent change of momentum in Bristol-Myer Sqb. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Bristol-Myer Sqb in search of a potential trend change.

Keywords: rebounders bristol-myer sqb

Ticker(s): BMY