Bristol-Myers Squibb: bounce underway, but the decline isn't over

Bristol-Myers Squibb is at week 14 of a sell signal. This week closed up 6.5% with buyers at 94% — a sharp technical bounce following the prior week's -5.5% drop and a double bottom forming in the 54 area. Underlying trend indicators remain in negative territory. Those holding a short position follow the evolution: this rebound needs to prove itself before calling a reversal.