user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 431008 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Possible Bearish Inside Day Candle Pattern Detected for Bristol-Myers Squibb (NYSE:BMY)

Published on Tue, 01/29/2013 - 08:28
By Mallory Stone

Analysts have spotted a possible bearish inside day candle pattern in Bristol-Myers Squibb (NYSE:BMY) based on the price action in the company's shares. Yesterday's price range of $36.04 and $36.56 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Bristol-Myers Squibb may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Bristol-Myers Squibb (NYSE:BMY) is currently priced 3.1% above its average consensus analyst price target of $35.28. The stock should find initial support at its 200-day moving average (MA) of $33.50 and further support at its 50-day MA of $33.16.

Bristol-Myers Squibb Company is a global biopharmaceutical company that discovers, develops, manufactures and sells pharmaceutical and nutritional products. The Company's products and experimental therapies address cancer, heart disease, HIV/AIDS, diabetes, rheumatoid arthritis, hepatitis, organ transplant rejection and psychiatric disorders.

In the past 52 weeks, Bristol-Myers Squibb share prices have been bracketed by a low of $30.64 and a high of $36.71 and closed yesterday at $36.41, 19% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

By Mallory Stone
mstone@fnno.com

Latest News from FNNO

Recent 52-Week High Exceeded in Shares o...

Shares of Washington Real Estate Investment Trust (NYSE:WRE) traded at a new 52-week hi ...

Shares of WR Berkley Rise Above Previous...

WR Berkley (NYSE:WRB) traded at a new 52-week high today of $48.01. Approximately 221, ...

Shares of WPX Energy Rise Above Previous...

WPX Energy (NYSE:WPX) traded at a new 52-week high today of $25.05. This new high was ...

WP Carey Looks to Continue to Trade Abov...

WP Carey (NYSE:WPC) traded today at a new 52-week high of $69.12. Approximately 185,00 ...

Recent 52-Week High Exceeded in Shares o...

VCA Antech (NASDAQ:WOOF) traded today at a new 52-week high of $39.57. This new high w ...

Waste Management: 52-Week High Recently ...

Shares of Waste Management (NYSE:WM) traded today at $46.92, breaking its 52-week high. ...

Recent 52-Week High Exceeded in Shares o...

Shares of Vector Group (NYSE:VGR) traded at a new 52-week high today of $23.20. So far ...

Recent 52-Week High Exceeded in Shares o...

Union Pacific (NYSE:UNP) traded at a new 52-week high today of $106.30. Approximately ...