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June 2, 2014
10:37 EDTBMYBristol-Myers nearing important test of support, levels to watch
On a multi-year chart, the $48 level stands out as one to watch. That level was a pivot high nearly a year ago to date before a corrective phase began which then lead to a stronger rally. Following that rally the $48 area has been tested numerous times as support. What may be different this time is that any test of $48 is coming after the long-term uptrend has been called into doubt by the price action of the last several months. A breakdown below $48 could mark a major top with subsequent bearish price action. In that event next support below would be at $46.54. Equally a strong bounce off $48 might signal a bullish turn for the shares, but a move to well above $50 would be required to fill the most recent bearish gap on the chart.
News For BMY From The Last 14 Days
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March 26, 2015
07:30 EDTBMYDeutsche Bank to hold a conference
Pharma One-on-One Day is being held in Denver, Colorado on March 26.
March 24, 2015
08:02 EDTBMYBristol-Myers acquires exclusive license from Novo Nordisk for research program
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March 20, 2015
07:55 EDTBMYAstraZeneca seen as potential target again if oncology drugs lag, Bloomberg says
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