Bristol-Myers Squibb Co (NYSE:BMY) has taken an absurd beating over the last two trading days. What does this mean for smart investors? Possibly a great buying opportunity! That is what I am seeing based on the technical chart analysis I have done. The stock fell off a cliff after one of their biggest, most important drug studies failed to reach its endpoint. The stock collapsed from $75.25 to $60.00 in two trading days.

Today, the stock is signaling a buy off the $60 key support level. Not only was this even number tagged but on the chart there was a key gap fill going back to February 2016. A bounce is likely off this level back to $68.00. This bounce should take approximately 2-4 weeks to play out.

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By pro-Trader

Annabelle Trader