Bristol Myers Squibb BMY Stock & Option Trade Ideas

Based on the technical data for BMY, the stock is currently showing bearish signals:

• MACD (Moving Average Convergence Divergence) is below the signal line, indicating a bearish trend.
• The RSI (Relative Strength Index) is relatively low, suggesting the stock may be oversold.
• The stock price is below the middle Bollinger Band, also indicating a bearish trend.

Considering the bearish signals, here are potential stock and option trading strategies for BMY in the coming days:

• Stock Trading: Traders could consider short-selling BMY or implementing a bearish options strategy to capitalize on the anticipated downward movement in the stock price.
• Option Trading: Traders could look at buying put options on BMY to profit from potential further price declines. Alternatively, they could consider constructing bearish option spreads like bear put spreads or bear call spreads.

It is important for traders to conduct further analysis and consider their risk tolerance before implementing any trading strategy.