The Greedy Trader Weekly Analysis
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Daily RSI:< 30
Number of records: 10
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Relative Strength Index (RSI Indicator)
The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.
Relative strength index- rsi indicator and overbought oversold index.
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RSI divergence - Bullish Bearish.
rsi divergence,Bullish,Bearish,bullish stocks,Bullish Divergence,Bearish Divergence,stock market

Bristol-Myers Squibb (BMY)

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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtBearish Advance Block Candlestick
Move cursor over the icon to see details.

It was a third consecutive positive week for the Bristol-Myers Squibb (BMY). During the week, the BMY gained 1.33 points, or 2.89%, and closed at 47.32 on Friday, August 9, 2019. Weekly volume was 8% above average.

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 17.56% 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 (42.04) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. BMY may retest the broken resistance line. It is considered to be a support line now. 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 9.53% retracement level.

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

The daily MACD line is above its signal line since July 25, 2019. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

Candlestick pattern: [See BMY candlestick chart pattern]
On Friday the chart has formed a Bearish Advance Block Candlestick pattern. This pattern occurs in an uptrend; it is not a top reversal pattern, but it might precede a meaningful price decline. The reliability of the Bearish Advance Block pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Advance Block Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.20
Williams' Percentage Range (W%R) 10.10
Overbought
Lane's Stochastic (%D-Slow) 88.26
Overbought
Greed/Fear Indicator (GFI) 85.79
Overbought
Moving Average Converg./Diverg. (MACD) -0.08
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.45
Williams' Percentage Range (W%R) 34.40
Lane's Stochastic (%D-Slow) 27.77
Greed/Fear Indicator (GFI) 48.15
Moving Average Converg./Diverg. (MACD) -1.65
Trading Signals
Description Value Chart
Upper Bollinger Band 48.05
Daily Stochastic Crossing 47.47
Price 47.32
50 Day Moving Average 45.84
20 Day Moving Average 44.87
Parabolic System 44.78
Weekly Stochastic Crossing 44.59
Lower Bollinger Band 43.01
Weekly Trendline Support 42.04
Weekly Trendline Resistance 41.81
Sector and Industry
Description Name Rank
Sector Healthcare 6
Industry Drug Manufacturers/Major 51
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 41.81
Support 42.04
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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