The Greedy Trader Weekly Analysis
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Archive
- 5/10/2019
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Bristol-Myers Squibb
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Summary:
Weekly :Oversold sectorLane's Stochastic is oversoldPrice is near the Fibonacci 23.6% retracement level
Daily :The price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price is close to the moving average in the center of the Bollinger Bands
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It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY dropped -1.61 points, or -3.31%, and closed at 47.01 on Friday, May 10, 2019. It was the worst weekly loss since March 22, 2019. Weekly volume was 13% above average.

BMY is a member of Healthcare Sector. Healthcare is the most oversold 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 44.30 on January 3, 2019. BMY lost 25.75 points, or 36.76%, in 45 weeks. The price is now at the 10.52% 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 44.54 on April 25, 2019. BMY lost 9.84 points, or 18.09%, in 7 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See BMY weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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 weekly MACD line is below its signal line since March 29, 2019. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 April 25, 2019 at 44.54 and reached 49.81 on May 1, 2019. BMY gained -5.27 points, or -11.83%, in 6 days. The price is now at the 53.13% retracement level.

Daily Technical Indicators: [See BMY daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since April 24, 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.

The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.92
Williams' Percentage Range (W%R) 55.20
Lane's Stochastic (%D-Slow) 46.39
Greed/Fear Indicator (GFI) 51.37
Moving Average Converg./Diverg. (MACD) -0.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.59
Williams' Percentage Range (W%R) 74.20
Lane's Stochastic (%D-Slow) 14.91
Oversold
Greed/Fear Indicator (GFI) 28.00
Moving Average Converg./Diverg. (MACD) -1.97
Trading Signals
Description Value Chart
Parabolic System 49.86
Upper Bollinger Band 48.88
50 Day Moving Average 47.99
Daily Stochastic Crossing 47.48
Price 47.01
20 Day Moving Average 46.40
Weekly Stochastic Crossing 45.51
Lower Bollinger Band 44.94
Sector and Industry
Description Name Rank
Sector Healthcare 1
Industry Drug Manufacturers/Major 29
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 44.54
Low Date 04/25/2019
High 49.81
High Date 05/01/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 54.38
High Date 03/05/2019
Low 44.54
Low Date 04/25/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 63.69
High Date 10/09/2018
Low 44.30
Low Date 01/03/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 70.05
High Date 02/16/2018
Low 44.30
Low Date 01/03/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 77.12
High Date 07/15/2016
Low 44.30
Low Date 01/03/2019
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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