#Bristol-Myers Squibb could be on track to break out.
The drugmaker said Monday that its current pipeline of drugs could generate $25 billion in annual revenue, enough to replace lost revenue from expired patents by 2030.
Bristol-Myers Squibb closed up 0.460 at 65.430. Volume was 18% above average (neutral) and Bollinger Bands were 4% narrower than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the bullish or bearish trend reflected in the lower ribbon.
Summary
Bristol-Myers Squibb is currently 8.1% above its 200-period moving average and is in an upward trend.
Volatility is extremely high when compared to the average volatility over the last 10 periods.
There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect volume flowing into and out of Bristol-Myers Squibb at a relatively equal pace (neutral).
Our trend forecasting oscillators are currently bullish on Bristol-Myers Squibb and have had this outlook for the last 3 periods.
Overall, the bias in prices is: Upwards.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles.
During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.
A spinning top occurred (a spinning top is a candle with a small real body).
Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close).
During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Three white candles occurred in the last three days.
Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
