Investors and stock traders need to be on high alert as a head and shoulders pattern forms on Bristol-Meyers Squibb (BMY). A head and shoulders pattern is a very bearish signal on a stock chart and usually signals a sharp move lower. Any daily close below $63.25 triggers the collapse to a head and shoulders pattern target of $59.00. Investors and traders can look to short this stock on that breakpoint for an easy ride to target.
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