Bristol-Myers Squibb may rise to 56.60 - 58.60

45.2 is our pivot point.

Our preference

The upside prevails as long as 45.2 is support.

Alternative scenario

Below 45.2, expect 42.1 and 40.2.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 42.087 and 41.9648). Finally, Bristol-Myers Squibb has crossed above its upper daily Bollinger band (47.09).

Supports and resistances

60.6 **

58.6 *

56.6 **

54.6

50.45 (USD-last)

46.5

45.2 **

42.1 *

40.2 **

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