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Bristol-Myers Wave Analysis – 31 October, 2019

  • Bristol-Myers rising inside impulse wave (3)
  • Likely to rise to 57.00

Bristol-Myers continues to rise inside the medium-term impulse wave (3), which started earlier from the key support level 54.00 (former strong resistance from November and March).

The active impulse wave (3) belongs to the long-term upward impulse sequence ③.

Bristol-Myers is expected to rise further and retest the next resistance level 57.00 (top of the previous impulse wave (1)) – after which it can rise to 60.00.

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