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Archive
- 8/16/2019 -
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Bristol-Myers Squibb (BMY)

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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaThe price has fallen below the Parabolic SAR
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It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY gave back -0.34 points, or -0.72%, and closed at 46.98 on Friday, August 16, 2019. Weekly volume was -27% below average.

BMY is a member of Healthcare Sector. Healthcare is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See BMY long-term trend chart]
A long-term downtrend had started on February 16, 2018 at 70.05 and reached 42.48 on July 23, 2019. BMY lost 27.57 points, or 39.36%, in 74 weeks. The price is now at the 16.32% retracement level.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term downtrend had started on March 5, 2019 at 54.38 and reached 42.48 on July 23, 2019. BMY lost 11.90 points, or 21.88%, in 20 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (41.87) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See BMY weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since July 26, 2019. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See BMY short-term trend chart]
A short-term uptrend had started on July 23, 2019 at 42.48 and reached 47.83 on August 9, 2019. BMY gained -5.35 points, or -12.59%, in 17 days. The price is now at the 15.89% retracement level.

Daily Technical Indicators: [See BMY daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since July 25, 2019. This is an indication that the short-term trend is up.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.78
Williams' Percentage Range (W%R) 34.80
Lane's Stochastic (%D-Slow) 50.12
Greed/Fear Indicator (GFI) 58.38
Moving Average Converg./Diverg. (MACD) 0.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.91
Williams' Percentage Range (W%R) 52.40
Lane's Stochastic (%D-Slow) 34.60
Greed/Fear Indicator (GFI) 43.69
Moving Average Converg./Diverg. (MACD) -1.60
Trading Signals
Description Value Chart
Upper Bollinger Band 48.36
Parabolic System 47.83
Price 46.98
Daily Stochastic Crossing 46.35
50 Day Moving Average 45.85
20 Day Moving Average 45.43
Weekly Stochastic Crossing 45.35
Lower Bollinger Band 43.27
Weekly Trendline Support 41.87
Weekly Trendline Resistance 41.24
Sector and Industry
Description Name Rank
Sector Healthcare 8
Industry Drug Manufacturers/Major 63
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 42.48
Low Date 07/23/2019
High 47.83
High Date 08/09/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 41.24
Support 41.87
High 54.38
High Date 03/05/2019
Low 42.48
Low Date 07/23/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 63.69
High Date 10/09/2018
Low 42.48
Low Date 07/23/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 70.05
High Date 02/16/2018
Low 42.48
Low Date 07/23/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 77.12
High Date 07/15/2016
Low 42.48
Low Date 07/23/2019
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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