Dec. 25 at 1:29 PM
$BMY Actionable Trade Alert:
Market Context:
$BMY closed at
$54.71, near its 60D high of
$54.86, indicating bullish momentum. The RSI at 66.31 suggests the stock is approaching overbought territory, but not excessively so, allowing for further upside potential.
Directional Bias: The stock shows a strong upward trend, supported by the MA30 at
$50.48 and MA50 at
$48.26, both below the current price. The proximity to the 60D high indicates potential resistance, but the overall trend remains positive.
Trade Plan:
- Suggested Entry:
$54.75 (slightly above the last close)
- Stop Loss:
$52.50 (approximately 4.0% below entry)
- Take Profit Targets:
1.
$56.00 (Target 1: 2.3% ROI)
2.
$57.50 (Target 2: 5.1% ROI)
3.
$64.00 (Target 3: 16.9% ROI)
This plan provides a solid risk-reward ratio, with the potential for a 17%+ ROI on the final target. Monitor the trade closely as it approaches key levels.
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