Bristol-Myers Squibb may rise to 54.50 - 56.50

Our pivot point is at 44.7.

Our preference

The upside prevails as long as 44.7 is support.

Alternative scenario

The downside breakout of 44.7 would call for 41.4 and 39.4.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 43.608 and 42.319).

Supports and resistances

58.5 **

56.5 *

54.5 **

52.5

48.17 (USD-last)

45.9

44.7 **

41.4 *

39.4 **

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