Bristol Myers Squib Co. (BMY): A Period of Correction

SUMMARY

NOTE: As of midnight on Tuesday the June 12th, the BitcoinLive Founding Membership enrollment will be closed!! If you have interest in further receiving Crypto analysis from @haejin and have received the enrollment email as result of signing up for the shortlist, please do so before midnight on June 12th!!

---

Bristol Myers Squib (BMY) was the darling of the pharmaceutical industry during the 1990s and had placed a solid five wave impulse. The subsequent correction was deep and long as its ABC sequence retraced in excess of 0.78 Fib level. Since then, price climbed back up to prior highs in another impulse round and has started correcting. How deep might this correction go?

First, the rounded price formation is complete and the current correction is likely putting in the handle formation. The ABC sequence is likely to be a fractal of the first and reach towards the prior wave 2 zone. IF this is correct, then BMY has a few years of corrective period and likely failed drug FDA approvals or recalls might be blamed for it.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

--

__