Bristol-Myers Squibb may rise to 54.60 - 56.70

Our pivot point is at 45.3.

Our preference

As long as 45.3 is support look for 54.6.

Alternative scenario

The downside breakout of 45.3 would call for 41.9 and 39.9.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 48.1105 and 44.5462).

Supports and resistances

58.7 **

56.7 *

54.6 **

52.6

48.24 (USD-last)

46.6

45.3 **

41.9 *

39.9 **

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