Bristol-Myers Squibb Companys stock price (BMY) extended its gains in the intraday levels, with positive signals from the RSI, while the stock tries to correct the main downward trend in the short term, thus testing the resistance of the secondary trend line, with negative pressure due to trading below the 50-day SMA.

Therefore we expect the stock to return lower, targeting the pivotal support of $39.94, provided the resistance of $43.20 holds on.

Trend forecast: Likely Bearish