Bristol Meyers Rally Taking a Healthy Pause

16 בדצמ׳ 2013

BMY looks like a great buy to me right now, the stock has been on a tear recently although it has been stair-stepping higher (see Apple) which is very healthful for sustaining its rally, the fundamentals on this stock could not be more impressive with a $7 billion drug in the pipeline plus an already multi-billion dollar drug launched last year, the stock is consolidating at the $50 level holding the most recent gap, the stock is hanging around right at the 50 day with RSI a healthy 45 after digesting the move and the MACD potentially getting ready to reverse

Disclosure: Long Feb 52.5-57.5 call spreads