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Bristol-Myer Sqb Rises 1.34% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Bristol-Myer Sqb (NYSE:BMY) traded in a range yesterday that spanned from a low of $53.24 to a high of $54.30. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $53.50 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 $49.96 and a high of $70.05 and are now at $53.79, 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has remained constant.

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 15.7%. 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