Categories: Technical analysis

Bristol Myers Squibb Wave Analysis 12 January, 2021

• BMY rising inside sharp impulse wave 3

• Likely to reach resistance level 66.00

Bristol Myers Squibb continues to rise inside the sharp impulse wave 3 which previously broke the key resistance level 63.45 (top of waves B and 1) – standing close to the 61.8% Fibonacci correction of the previous ABC correction (2) from November.

The breakout of the resistance level 63.45 was preceded by the breakout of the daily Triangle from November.

Bristol Myers Squibb is likely to rise further toward the next resistance level 66.00 (top of the aforementioned Triangle and the target for the completion of the active impulse wave 3).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: BMY

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