The Greedy Trader Weekly Analysis
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Bristol-Myers Squibb
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Summary:
Weekly :Oversold sectorBroken trend resistance line
Daily :Daily  MACD line has moved below its signal linePrice has crossed below the 50 Day Moving AverageWilliams' Percentage Range and Lane's Stochastic are oversold
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It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY dropped -1.43 points, or -2.78%, and closed at 49.96 on Friday, March 15, 2019. Weekly volume was 92% above average.

BMY is a member of Healthcare Sector. Healthcare is the second 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 chart has formed a Falling Channel chart pattern. The trend support level is at 41.95 and resistance is at 60.16. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term downtrend had started on October 9, 2018 at 63.69 and reached 44.30 on January 3, 2019. BMY lost 19.39 points, or 30.44%, in 12 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (41.49) 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 February 15, 2019. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See BMY short-term trend chart]
A short-term downtrend had started on March 5, 2019 at 54.38 and reached 48.79 on March 14, 2019. BMY lost 5.59 points, or 10.28%, in 9 days. The price is now at the 20.93% retracement level.

Daily Technical Indicators: [See BMY daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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) 46.42
Williams' Percentage Range (W%R) 80.50
Oversold
Lane's Stochastic (%D-Slow) 15.80
Oversold
Greed/Fear Indicator (GFI) 27.24
Moving Average Converg./Diverg. (MACD) 0.32
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.84
Williams' Percentage Range (W%R) 51.70
Lane's Stochastic (%D-Slow) 70.26
Greed/Fear Indicator (GFI) 55.84
Moving Average Converg./Diverg. (MACD) -1.85
Trading Signals
Description Value Chart
Upper Bollinger Band 53.20
Weekly Stochastic Crossing 52.60
20 Day Moving Average 51.34
Parabolic System 50.96
50 Day Moving Average 50.02
Price 49.96
Daily Stochastic Crossing 49.54
Lower Bollinger Band 48.82
Quarterly Trendline Support 41.95
Monthly Trendline Support 41.49
Sector and Industry
Description Name Rank
Sector Healthcare 2
Industry Drug Manufacturers/Major 49
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 54.38
High Date 03/05/2019
Low 48.79
Low Date 03/14/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 44.30
Low Date 01/03/2019
High 54.38
High Date 03/05/2019
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 29.76
Support 41.49
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 Falling Channel
Status Valid
Resistance 60.16
Support 41.95
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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