BMY Wave Analysis 21 January, 2021
January 21, 2021 @ 18:48 +03:00
• 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).