Bristol-Myers Squibb (BMY) is in the news Monday as they plan the sale of their plaque psoriasis and psoriatic arthritis drug Otezla to win FTC approval for their $74 billion Celgene Corp. (CELG) deal. Let's check out the charts of BMY.
In this daily bar chart of BMY, below, we can see that prices sold off sharply in October and made a lower low in early January. A lower close was made in April but not a lower intraday low.
Stepping back a bit and looking at the chart we can see that dips below $46 look like they have found buying interest. Prices are back down to $46 but it remains to be seen if investors of BMY will again show up as buyers below $46. BMY is trading back below the rising 50-day moving average line. This drug company has been below it's declining 200-day line since the middle of October.
The daily On-Balance-Volume (OBV) line shows a mostly bearish trend from October signaling aggressive selling. The Moving Average Convergence Divergence (MACD) oscillator has spent most of the last year below or hugging the zero line.

In this weekly bar chart of BMY, below, we can see that prices are below the declining 40-week moving average line. Today's price action is not plotted but we can imagine a decline to $46.
The weekly OBV line is weak and the weekly MACD oscillator is not showing much in terms of trend strength.

In this Point and Figure chart of BMY, below, we can a large potential base pattern with an upside price projection of $57.46.

Bottom line strategy: It looks like BMY is trying hard to bottom. We have an upside price target from the Point and Figure chart but their pending acquisition may be keeping investors sidelined. A trade at $50.01 will be bullish.