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Bristol-Myer Sqb Falls 8.42% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Bristol-Myer Sqb (NYSE:BMY) traded in a range yesterday that spanned from a low of $53.66 to a high of $58.67. Yesterday, the shares fell 8.4%, which took the trading range below the 3-day low of $57.85 on volume of 18.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Bristol-Myer Sqb share prices have moved between a 52-week high of $77.12 and a 52-week low of $46.01 and are now trading 17% above that low price at $53.98 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of Bristol-Myer Sqb on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $63.00. Since that call, shares of Bristol-Myer Sqb have fallen 6.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders bristol-myer sqb

Ticker(s): BMY