Bristol Myers (BMY) is making a bid to turn back up and bounce off support. On the price chart, the stock firmed above the December-January lows in February and moved to its highest level of the month today. The indicator window shows the MACD Histogram turning positive, which means MACD moved above its signal line. This is the first sign that momentum is improving.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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