The Greedy Trader Weekly Analysis
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Number of records: 13
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Bristol-Myers Squibb
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Summary:
Weekly :Overbought sector
Daily :The price has fallen below the Parabolic SAR
Move cursor over the icon to see details.

It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY gave back -0.38 points, or -0.71%, and closed at 53.08 on Friday, December 07, 2018. Weekly volume was 32% above average.

BMY is a member of Healthcare Sector. Healthcare is the 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 July 15, 2016 at 77.12 and reached 46.01 on January 26, 2017. BMY lost 31.11 points, or 40.34%, in 27 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 41.04 and resistance is at 72.43. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a long-term trend.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term downtrend had started on February 16, 2018 at 70.05 and reached 46.94 on October 25, 2018. BMY lost 23.11 points, or 32.99%, in 35 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 44.80 and resistance is at 63.49. 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 medium-term trend.

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

The weekly MACD line is below its signal line since October 19, 2018. This is an indication that the medium-term trend is down. 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 November 16, 2018 at 54.81 and reached 49.86 on November 27, 2018. BMY lost 4.95 points, or 9.03%, in 11 days. The chart has formed a Rising Pennant chart pattern. The trend support level is at 51.96 and resistance is at 53.74. A Rising Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Rising Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Pennant pattern in a short-term trend.

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

The daily MACD line is above its signal line since November 2, 2018. The distance between MACD and the signal line is low, but getting bigger.

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) 48.98
Williams' Percentage Range (W%R) 31.90
Lane's Stochastic (%D-Slow) 75.94
Greed/Fear Indicator (GFI) 64.33
Moving Average Converg./Diverg. (MACD) -0.55
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.31
Williams' Percentage Range (W%R) 62.40
Lane's Stochastic (%D-Slow) 34.19
Greed/Fear Indicator (GFI) 37.93
Moving Average Converg./Diverg. (MACD) -0.81
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 63.49
50 Day Moving Average 54.80
Upper Bollinger Band 54.26
Parabolic System 54.00
Weekly Trendline Resistance 53.74
Price 53.08
Daily Stochastic Crossing 52.91
20 Day Moving Average 52.88
Weekly Trendline Support 51.96
Weekly Stochastic Crossing 51.84
Lower Bollinger Band 51.55
Quarterly Trendline Support 44.80
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Drug Manufacturers/Major 143
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 49.86
Low Date 11/27/2018
High 53.99
High Date 12/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Rising Pennant
Status Valid
Resistance 53.74
Support 51.96
High 54.81
High Date 11/16/2018
Low 49.86
Low Date 11/27/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 46.94
Low Date 10/25/2018
High 54.81
High Date 11/16/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 63.49
Support 44.80
High 70.05
High Date 02/16/2018
Low 46.94
Low Date 10/25/2018
Description Value
Direction Down
Chart Pattern Rectangle
Status Valid
Resistance 72.43
Support 41.04
High 77.12
High Date 07/15/2016
Low 46.01
Low Date 01/26/2017
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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