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Look for Shares of Bristol-Myer Sqb to Potentially Pullback after Yesterday's 2.26% Rise

By David Diaz

Bristol-Myer Sqb (NYSE:BMY) traded in a range yesterday that spanned from a low of $51.22 to a high of $51.95. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $51.19 on volume of 5.0 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-Myer Sqb share prices have moved between a 52-week high of $63.69 and a 52-week low of $42.48 and are now trading 22% above that low price at $51.93 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 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