Chart of the Day: Bristol Myers Pulls Back

man-pharmaceuticals-science-laboratory.png

Bristol-Myers Squibb recently climbed to a three-year high, and now it’s pulled back.

The first pattern on today’s chart is the rally in July and August. The drugmaker is trying to stabilize at a 50 percent retracement of that move, which could suggest it’s trending higher.

Second, BMY made a low of $63 last month. The current consolidation is occurring ...

For more, please click here to view the related idea and chart analysis on TradingView.

BMY_tv_20260916.png
Bristol-Myers Squibb (BMY), daily chart, with select patterns and indicators, courtesy of TradingView.

Share:
headshot-David Russell A7R00277-sept-2025 (1).jpg

About the author

David Russell

David Russell is Global Head of Market Strategy at TradeStation. Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.
Show more

Related articles

Market Insights, Insights AI, and all related pages and content are hosted by TradeStation Group, Inc.

Client Support Icon
Chat Offline