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BMY
Jul 13, 2015 18:36:48 GMT -5
Post by tiarra on Jul 13, 2015 18:36:48 GMT -5
Looking at the 6 month chart, I noticed today BMY broke through resistance, ,making a new 52 wk high, on low volume, and then made a Bearish Doji Star. They have earnings next week. It will be interesting to see how this plays out.
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BMY
Jul 14, 2015 21:50:48 GMT -5
Post by dg on Jul 14, 2015 21:50:48 GMT -5
personally, I prefer high volume breakouts; and I don't like dojis when it happens. BTW, it's still inside the upper channel line the way I draw them.
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BMY
Jul 15, 2015 11:20:14 GMT -5
Post by tiarra on Jul 15, 2015 11:20:14 GMT -5
I agree with you completely in regards to the volume. I didn't expect it to break resistance unless the volume was higher.
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BMY
Jul 15, 2015 15:40:38 GMT -5
Post by dg on Jul 15, 2015 15:40:38 GMT -5
I assume that you are referring to horizontal resistance. If you go look at the 2 year chart and construct the upper channel line, you will see that its move is inside the upper channel line. At this point I would expect rise with decreasing volume -- but volume behavior is often jerky.
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