The “Chart of the Day” is Bristol-Myers Squibb (BMY), which showed up on Monday’s “NYSE 12-Month High” list. Bristol-Myers on Monday rallied by 0.35% and posted a new 10-year high of $31.93. TrendSpotter has been Long since Aug 29 at $29.29. In recent news on the stock, Deutsche Bank on Sep 26 reiterated its Buy rating on BMY and raised its price target to $37.50 from $31.50, saying that it believes Bristol-Myers is the only growth stock in the large-cap U.S. pharma sector and that it expects earnings to continue to move higher. Goldman Sachs on Sep 22 upgraded BMY to Buy from Neutral and raised its target to $37 from $30 based on earnings visibility from higher margin new drugs. Bristol-Myers Squibb, with a market cap of $53 billion, is a major global pharmaceutical company.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “New Highs/Lows” page. Then we clicked on the entry for NYSE 12-month highs. A new 12-month high is a popular sign of upside momentum. Then we applied a “Custom View” heading with the Barchart Opinion ranking as one of the columns. we then sorted the list by the Barchart Opinion ranking in order to find the stocks with the highest Opinion.
The status of Barchart’s Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- TrendSpotter: Buy
- Short-Term Indicators: 80% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 96% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
