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REPORTS FROM THE TRENCHES
Hubert Senters here.
Let’s take a look at BMY, Bristol-Myers Squibb. Things are dropping like flies and the stock markets lately. So it has had a bad selloff ever since it broke below the cloud so we’re going look at that first.
As you can see sell off one, two, three, four, five. That’s the fifth day below the cloud and then another sell off and then a big gap down and dropping into support here at about $50.
If $50 does not hold which I don’t think it’s going to especially with the entire market rolling over then the next target for BMY could be in the area of $46.
Good luck. Hope it helps. And I’ll see you on the next video.