Hold BMY at current weight; do not initiate new longs at spot ($64.72). Preserve the 3.93% dividend stream (1.57x FCF coverage) while the Eliquis LOE trajectory and pipeline execution resolve. Cooling momentum signals (RSI 72→63, 10.7% above 50 SMA without retest) make spot entry a momentum chase; the $62-63 zone (10 EMA/20 SMA confluence) offers better risk-reward for potential re-engagement.