BMY looks like it could take a tumble.
Im not sure if I will take the trade myself.
But we have the following confluences;
Rising Wedge Pattern
Momentum divergence (Momentum = Lower Highs but Price = Higher Highs)
RSI divergence (RSI = Lower Highs but Price = Higher Highs)
Volume looks to be on the decline (giving confirmation to the wedge)
Im not sure if I will take the trade myself.
But we have the following confluences;
Rising Wedge Pattern
Momentum divergence (Momentum = Lower Highs but Price = Higher Highs)
RSI divergence (RSI = Lower Highs but Price = Higher Highs)
Volume looks to be on the decline (giving confirmation to the wedge)
Note
Break of wedge - held on the daily - watch closely
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.