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After Yesterday's Rally of 2.21% Shares Could Potentially Pullback

By Amy Schwartz

Bristol-Myer Sqb (NYSE:BMY) traded in a range yesterday that spanned from a low of $56.30 to a high of $57.57. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $56.35 on volume of 3.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Bristol-Myer Sqb share prices have been bracketed by a low of $46.01 and a high of $77.12 and are now at $57.48, 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has remained constant.

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: rebounders bristol-myer sqb

Ticker(s): BMY