Bristol Myers Squibb (BMY) reported strong Q4 earnings earlier in February, and prospects remain strong for 2025, although it may face some headwinds. The recent earnings announcement for the company led to a pullback in the stock price; however, BMY is now showing signs of recovery and gaining some momentum. The stock caught my interest when I ran my StockCharts Technical Rank (SCTR) scan on Thursday evening. An attractive price point and the recent strength of the Health Care sector enticed me to do a deeper dive into the stock’s charts. The Health Care sector was in a steady downfall from September to December 2024. Bristol Myers Squibb (BMY) deviated from the downfall and trended higher during this time. The daily chart of BMY below shows the stock’s performance relative to the Health Care Select Sector SPDR Fund (XLV). Since September 30, 2024, BMY’s performance has outperformed XLV’s. Even during…
