Bristol-Myers Squibb may fall to 36.30 - 37.50

Our pivot point stands at 43.3.

Our preference

The downside prevails as long as 43.3 is resistance.

Alternative scenario

Above 43.3, look for 45.3 and 46.6.

Comment

The RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 43.749 and 47.7558). Finally, Bristol-Myers Squibb is trading below its lower daily Bollinger band (standing at 41.57).

Supports and resistances

46.6 **

45.3 *

43.3 **

42.5

41.24 (USD-last)

38.7

37.5 **

36.3 *

35.1 **

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