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Bristol-Myer Sqb Set to Possibly Pullback After Yesterday's Rally of 1.53%

By Nick Russo

Bristol-Myer Sqb (NYSE:BMY) traded in a range yesterday that spanned from a low of $62.88 to a high of $63.61. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $62.60 on volume of 4.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Bristol-Myer Sqb has traded in a range of $42.48 to $68.34 and is now at $63.62, 50% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has remained constant.

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