Bristol-Myers Squibb Co. (BMY) — This health-services giant engages in the discovery, development, licensing, manufacture, marketing, distribution and sale of pharmaceuticals and other health-care related products.

It tumbled from a high of $32 in July 2007 to $16 in October 2008.

Since then it formed a “V” bottom under heavy accumulation and was driven above $24 by mid-December. It has broken its bearish resistance line and just this week issued a “Golden Cross,” which is a major buy signal that is triggered when the 50-day moving average crosses up and through the 200-day moving average.

BMY should be positioned for longer-term investment but traders may grab it now for a short-term target of $28.

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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.