Bristol-Myers Squibb (BMY) was downgraded today to a hold by thestreet.com's quantitative service. We have been positive on the charts and indicators for BMY - see our review of January 12 - where we recommended, "It has been months in the making but it looks like BMY is finally breaking out over the resistance in the $64-$66 area. Traders should stay long and consider increasing their exposure on strength above $67. Risk below $60 and $100 is our price objective for the first half of 2021."
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We've reached the next phase of the bear market, as big names get hit.
Look beyond the mega-cap names for income investing to the more inclusive -- and often smaller -- Dividend Champions.
Here's what I'd look for NVDA to do in the days ahead.
Let's see how the charts look before earnings Wednesday night.