Bristol-Myers Squibb may rise to 57.70 - 58.80

Our pivot point is at 52.

Our preference

The upside prevails as long as 52 is support.

Alternative scenario

The downside breakout of 52 would call for 50.2 and 49.1.

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 50.741 and 49.4068).

Supports and resistances

59.9 **

58.8 *

57.7 **

56.6

53.44 (USD-last)

52.7

52 **

50.2 *

49.1 **

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