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TMCNet:  Bristol-Myers Squibb (BMY) Approaches New Downside Target of $36.23

[January 31, 2013]

Bristol-Myers Squibb (BMY) Approaches New Downside Target of $36.23

Jan 31, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Bristol-Myers Squibb (NYSE:BMY) opened today below their pivot of $36.55 and have already reached the first level of support at $36.42. Investors may be interested in a cross of the next downside pivot targets of $36.23 and $35.91.

Bristol-Myers Squibb (NYSE:BMY) is currently priced 3.3% above its average consensus analyst price target of $35.28. The stock should discover initial support at its 200-day moving average (MA) of $33.54 and subsequent support at its 50-day MA of $33.38.

In the past 52 weeks, Bristol-Myers Squibb share prices have been bracketed by a low of $30.64 and a high of $36.71 and are now at $36.49, 19% above that low price. The 200-day and 50-day moving averages have moved 0.18% higher and 0.93% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Bristol-Myers Squibb on January 10th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.90. Since that recommendation, shares of Bristol-Myers Squibb have risen 8.0%. We continue to monitor BMY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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