Hello TradingView Family / Fellow Traders,
On Monthly: Left Chart
BMY has been hovering inside a range between the 50 support and 70 resistance.
Currently BMY is approaching the lower bound of the range, so we will be looking for buy setups on lower timeframes.
On Daily: Right Chart
📈 For the bulls to take over, we need a momentum candle close above the last major high in gray at 54.
📉 Meanwhile, BMY would be bearish and can still trade lower to dive inside the 44-50 support zone before trading higher.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
On Monthly: Left Chart
BMY has been hovering inside a range between the 50 support and 70 resistance.
Currently BMY is approaching the lower bound of the range, so we will be looking for buy setups on lower timeframes.
On Daily: Right Chart
📈 For the bulls to take over, we need a momentum candle close above the last major high in gray at 54.
📉 Meanwhile, BMY would be bearish and can still trade lower to dive inside the 44-50 support zone before trading higher.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr