Bristol Myers's most recent trend suggests a bearish bias. One trading opportunity on Bristol Myers is a Bear Call Spread using a strike $50.00 short call and a strike $55.00 long call offers a potential 8.7% return on risk over the next 21 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $50.00 by expiration. The full premium credit of $0.40 would be kept by the premium seller. The risk of $4.60 would be incurred if the stock rose above the $55.00 long call strike price.
The 5-day moving average is moving down which suggests that the short-term momentum for Bristol Myers is bearish and the probability of a decline in share price is higher if the stock starts trending.
The 20-day moving average is moving down which suggests that the medium-term momentum for Bristol Myers is bearish.
The RSI indicator is at 30.11 level which suggests that the stock is neither overbought nor oversold at this time.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
LATEST NEWS for Bristol Myers
Will The FDA Approve Bristol's MS Drug? Here Are Some Bullish Indicators
Wed, 25 Mar 2020 20:17:07 +0000
The Food and Drug Administration could approve Bristol Myers Squibb's new multiple sclerosis treatment, dubbed ozanimod, on Wednesday — in a move that would likely prod BMY stock to pop.
China Suspends Use of BeiGene Cancer Drug Abraxane
Wed, 25 Mar 2020 18:45:00 +0000
China suspended the use of a BeiGene cancer drug, Abraxane. BeiGene, which gets the drug from Bristol-Myers, said the problem stems from a Bristol-Myers contract manufacturing plant in the U.S.
Pfizer Is Entering The Coronavirus Drug Hunt — But Is PFE Stock A Buy?
Wed, 25 Mar 2020 14:00:19 +0000
Pfizer stock is on a recent downswing in the wake of lackluster fourth-quarter earnings, though the company is partnering on a coronavirus vaccine. Is the pharma company a buy right now?
China suspends Bristol-Myers' cancer drug sales over findings at U.S. plant
Wed, 25 Mar 2020 13:58:36 +0000
The suspension by the China National Medical Products Administration was announced by partner Beigene Ltd and confirmed by Bristol-Myers on Wednesday. Beigene and Bristol-Myers were working to restore supply as soon as possible, said China-based Beigene, which signed an agreement with Bristol-Myers' Celgene unit in 2017 to market and distribute Abraxane. “This decision only applies to the China market and does not impact our ability to supply Abraxane outside of China,” Bristol-Myers said in an emailed statement.
China suspends sales of Bristol-Myers' cancer drug
Wed, 25 Mar 2020 13:11:21 +0000
Also on Market Tamer…
Follow Us on Facebook