• Return to Headlines

Look for Shares of Bristol-Myer Sqb to Potentially Rebound after Yesterday's 2.62% Sell Off

By Nick Russo

Bristol-Myer Sqb (NYSE:BMY) traded in a range yesterday that spanned from a low of $58.48 to a high of $60.77. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $60.75 on volume of 4.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Bristol-Myer Sqb on June 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.34. Since that recommendation, shares of Bristol-Myer Sqb have risen 11.8%. We continue to monitor BMY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

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 $58.87, 18% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

Keywords: rebounders bristol-myer sqb

Ticker(s): BMY