Chart of the Day: Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb (BMY) is trading sideways, within a range, and a rectangle pattern has formed that could lead to a breakout or breakdown sometime soon…

Bristol-Myers Squibb (BMY) discovers, develops, and markets drugs for various indications, such as cardiovascular, oncology, and immune disorders. The company’s immuno-oncology drug, Opdivo, and its blood thinner, Eliquis, drive growth for the company’s profits. The label expansion of Opdivo should continue to boost revenue.

Take a look at the 1-year chart of Bristol BMY below with added notations…

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