Market Snapshots

BMY Wave Analysis 21 January, 2021

BMY Wave Analysis 21 January, 2021

• BMY reversed from major resistance level 66.10

• Likely to test support level 64.00

BMY recently reversed down from the major resistance level 66.10 (monthly high from October) – standing well above the upper daily Bollinger Band.

The same resistance level 66.10 reversed the price sharply at the beginning of January – which started the previous sharp downward impulse wave (C).

BMY is expected to fall further toward the next support level 64.00 (former monthly high from July).

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