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Bristol-Myers Squibb Set to Possibly Pullback After Yesterday's Rally of 1.30%

By Nick Russo

Bristol-Myers Squibb (NYSE:BMY) traded in a range yesterday that spanned from a low of $54.32 to a high of $55.24. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $54.81 on volume of 2.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Bristol-Myers Squibb share prices have moved between a 52-week high of $77.12 and a 52-week low of $46.01 and are now trading 20% above that low price at $55.04 per share. 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 monitoring the recent change of momentum in Bristol-Myers Squibb. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Bristol-Myers Squibb in search of a potential trend change.

Keywords: rebounders Bristol-Myers Squibb

Ticker(s): BMY