The bullish DailyPlay we chose for Wednesday Jan 11th is Bristol Myers Squibb (BMY). BMY is part of the Healthcare Sector (XLV). Over the last month, XLV has experienced a 5.58% move higher and it’s 1m and 6m trend turned bullish on 1/6 and recently broke above its $70 resistance level.
Bristol Myers Squibb’s 1m and 6m trends turned bullish on 1/5 and recently bounced higher off its $58 support level. With a technical score of 2 (out of 10), BMY looks positioned to continue this strong bullish trend higher.
As a stop loss, if BMY was to trade below $58 for multiple days, this would invalidate our analysis and suggest getting out of the trade.