Bristol-Myers Squibb tries to correct downward trend - Analysis - 06-06-2023

Bristol-Myers Squibb Company's stock (BMY) rose in the intraday levels, buoyed by positive signals from the RSI, while correcting the main downward trend in the short term, as it marked a fresh profit of 0.49% in the last session, or 32 cents, settling at 65.98, while trading alongside the downward trend line, with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the support at 63.10, provided the resistance of 66.40 holds on.

Expected trend for today: Bearish