Watch the Rectangle on BMY closely. Trade with professional charting tools.
Sideways movement between parallel supports.
Bullish continuation pattern.
Consolidation. Can break either way.
Traders are watching Bristol Myers Squibb (BMY) as price action tightens. The stock is trading at $59.12, up 1.0% on the day. The primary technical feature is a Ascending Triangle formation. This setup is supported by average volume turnover. A potential breakout level is identified at $60.78, targeting $66.15 with support near $55.41 (R:R 1.0).
What is your outlook on BMY?