Bristol Myers Squibb Tests Key Level, Here’s The Play
InTheMoneyStocks.com | Apr 12, 2018 02:11PM ET
Bristol-Myers Squibb (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 (NYSE:PFE) showed a lack of interest in a potential merger with Bristol Myers Squibb. 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.
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