Signal of the Day

BMY has been on a massive bullish run since bottoming out back in January and it has put itself in a position to continue higher.

Darvas Classic

BMY is ready to test resistance and get its bullish show back on the road.

After failing to break through resistance during its last attempt late last week, BMY is positioning itself to make another push for higher ground. Volume is on the rise, which is a great indication of a new round of buying. If it manages to push through resistance at $57.20, we could see it surge up to its 200 SMA in the $60 zone.

The signal on BMY was generated by the Darvas Classic Strategy that can be found in our Darvas Box Plug-in. The plug-in is based on the work of Nicolas Darvas.

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable.