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SmarTrend Watching for Potential Pullback in Shares of Bristol-Myer Sqb After 1.71% Gain

By James Quinn

Bristol-Myer Sqb (NYSE:BMY) traded in a range yesterday that spanned from a low of $51.96 to a high of $53.23. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $52.62 on volume of 3.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Bristol-Myer Sqb share prices have been bracketed by a low of $46.01 and a high of $77.12 and are now at $53.07, 15% above that low price. Over the past week, 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 17.1%. 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