Bristol Meyers (BMY) – Healthcare Pullback Buy – Jan 29th, 2020

Bullish: BMY $64.82 – Healthcare

IV Rank: 26%

The bullish DailyPlay we chose for Wednesday, Jan 29th is Bristol Meyers (BMY). BMY is part of the Healthcare Sector (XLV). XLV has rallied 0.73% higher over the past month and its 1m and 6m trend turned neutral and bullish on Jan 24th and recently bounced higher off its $100 support level. 

Bristol Meyer’s 1m and 6m trend neutral and bullish on Jan 24th and recently bounced higher off its $64 support level. With a technical score of 10 (out of 10), BMY is a strong stock that will likely continue higher.

As a stop loss, if BMY was to trade below $64 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View BMY Trade

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