Buying dips on BMS Stock. Watch for the 55.20-54.70$ area. I am targeting for now 60$ and stop should not be placed too far away. 53/52$ seems reasonable to have a nice R:R.
Hourly Chart:
Watch the corrective channel, this might setup a nice long opportunity.
Blessings to you all.
Trade ist aktiv
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Bought around 55$, emergency stop for now at 52$ Target is 60$ Going to take a second position in mid 54$ with a better risk:reward. The chart is very promising.
nice!! added this to the watch list. thank you
btw, any thoughts on other pharma/bio tech stocks ? looks like BIB is well placed to go up too ?
NikhilMamu
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@IamJeanPaul hi
did you notice there is a bear candle doji today? what do you see?
IamJeanPaul
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@NikhilMulley, Hi, thanks for commenting. Yes, i personally think us-biotech has great value to offer, the breakout is very important and i think the coming months will be bullish (if nothing major happens). I picked up some longs on gilead sciences around 66$ and i am actually thinking to put some money simply into an biotech etf (proshare, ishare, inav, spdr or something like that, because it simply spreads the money nicely on several stocks).
I am also eager to pick up some longs on celgene, i read alot of good things about this stock. Weekly chart below:
I think dips below 130 into 125$ may offer a good opportunity to buy, with a stop around 115$. I think the all time high at 140$ is just a matter of time to be taken out, and maybe we can reach 150$.
Biogen also looks interesting, but chart technically i prefer celgene.
I personally dont like to invest in small firms, they are too volatile imho, i prefer to invest into the big boys of the industry.
Regarding Bristol: Yes, this daily candlestick is not very nice, and i am currently just watching, i will evaluate below 55$ if an entry is good enough, i would really love to see a quick dip into the upper 53.xx or lower 54.xx that would make a nice entry with a great risk:reward with a stop below 52.50$
I hope this helps :-)
NikhilMamu
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@IamJeanPaul, thanks for replying back.
sure and thanks for your thoughts on bio-tech. It does help.
NikhilMamu
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@IamJeanPaul, any thoughts further to today's earning results?
btw, any thoughts on other pharma/bio tech stocks ? looks like BIB is well placed to go up too ?