January 12, 2021 at 03:07PM
• BMY rising inside sharp impulse wave 3
• Likely to reach resistance level 66.00
Bristol Myers Squibb continues to rise inside the sharp impulse wave 3 which previously broke the key resistance level 63.45 (top of waves B and 1) – standing close to the 61.8% Fibonacci correction of the previous ABC correction (2) from November.
The breakout of the resistance level 63.45 was preceded by the breakout of the daily Triangle from November.
Bristol Myers Squibb is likely to rise further toward the next resistance level 66.00 (top of the aforementioned Triangle and the target for the completion of the active impulse wave 3).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/bristol-myers-squibb-wave-analysis-12-january-2021-20210112/
Selected by fonecable.com
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