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Actionable news in BMY: BRISTOL-MYERS SQUIBB CO.,

Today's Momo Momentum Stock Is Bristol-Myers Squibb Company (BMY)

Trade-Ideas LLC identified Bristol-Myers Squibb Company ( BMY) as a momo momentum candidate. In addition to specific proprietary factors, Trade-Ideas identified Bristol-Myers Squibb Company as such a stock due to the following factors:

  • BMY has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $426.3 million.
  • BMY has a PE ratio of 58.
  • BMY is currently in the upper 30% of its 1-year range.
  • BMY is in the upper 25% of its 20-day range.
  • BMY is in the upper 35% of its 5-day range.
  • BMY is currently trading above yesterday's high.
  • BMY has experienced a gap between today's open and yesterday's close of 0.6%.

'Momo Momentum' stocks are valuable stocks to watch for a variety of reasons including historical back testing and price action. Market technicians refer to such stocks as being in a mark-up phase before a possible distribution period and price decline. Technical analysts and traders frequently find that the factors referenced above tend to create a temporary burst of strong wind in a stock's sail. Nevertheless, all successful traders must excel at maximizing gains while keeping losses to an absolute minimum. For that reason, the holding period on momo momentum stocks must always be a primary consideration, and this part of the puzzle is ultimately at the discretion of each individual's risk tolerance and portfolio risk management...


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