First leg of corrective wave A completes

3 Haz

BMY has completed the first set of wave A after completing 5-wave internally. Currently, price action suggest that we may be staging a larger set of wave B as there is strong v-shaped bottom supported at 61.8% retracement level from 37.00-62.80. Furthermore, the larger structure is showing a strong higher low in formation.

Hence, we are looking at 50.62 as our 1st TP and 59.60 as our mid to long-term target.

30 Haz

İşlem elle kapatılmış

Target fails to close above resistance at 50.62. May head lower and test 43.10