Bullish DailyPlay for Wednesday Jan 11th, 2017 – Bristol Myers Squibb (BMY)
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.