Bristol Myers Squibb (BMY)

[ITMS]

Bristol Myers Squibb $BMY Tests Key Level, Here Is The Play

Bristol Myers Squibb Co (NYSE:BMY) is a leader in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. Today, the stock is trading lower by $2.05 to $58.12 a share. This morning, the price target was lowered by Citigroup (NYSE:C) after meetings with Pfizer Inc (NYSE:PFE) illustrated a lack of interest in a potential merger with Bristol Myers Squibb (NYSE:BMY). The stock is now testing the important $58.00 level. A failure to hold this key support area would signal further weakness in the chart. The next major support level for BMY will be around the $52.00 area, this would be a solid long side trade for BMY stock.




Nicholas Santiago
InTheMoneyStocks