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Bristol-Myers Squibb (BMY) Approaches New Downside Target of $36.23
[January 31, 2013]

Bristol-Myers Squibb (BMY) Approaches New Downside Target of $36.23

Jan 31, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Bristol-Myers Squibb (NYSE:BMY) opened today below their pivot of $36.55 and have already reached the first level of support at $36.42. Investors may be interested in a cross of the next downside pivot targets of $36.23 and $35.91.

Bristol-Myers Squibb (NYSE:BMY) is currently priced 3.3% above its average consensus analyst price target of $35.28. The stock should discover initial support at its 200-day moving average (MA) of $33.54 and subsequent support at its 50-day MA of $33.38.

In the past 52 weeks, Bristol-Myers Squibb share prices have been bracketed by a low of $30.64 and a high of $36.71 and are now at $36.49, 19% above that low price. The 200-day and 50-day moving averages have moved 0.18% higher and 0.93% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Bristol-Myers Squibb on January 10th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.90. Since that recommendation, shares of Bristol-Myers Squibb have risen 8.0%. We continue to monitor BMY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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