BMY Wave Analysis – 15 June, 2020

• BMY falling inside sharp impulse wave C

• Likely to reach 53.40

Bristol-Myers Squibb continues to fall inside the sharp impulse wave C, which previously broke through the support area lying between the support level 59.15 (low of wave A) and the 50% Fibonacci correction of the previous upward impulse from the start of April.

The active impulse wave C belongs to the strong medium-term ABC correction (2) from the middle of May.

Bristol-Myers Squibb is likely to fall further toward the next support level 53.40 (target for the completion of the active wave (2)).