Bristol-Myers Squibb may rise to 56.40 - 57.40

Our pivot point stands at 51.

Our preference

As long as 51 is support look for 56.4.

Alternative scenario

The downside breakout of 51 would call for 49.4 and 48.4.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 52.3505 and 50.2928).

Supports and resistances

58.4 **

57.4 *

56.4 **

55.4

53.22 (USD-last)

51.7

51 **

49.4 *

48.4 **

Number of asterisks represents the strength of support and resistance levels.