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 :Overbought sector
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
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It was a second consecutive positive week for the Bristol-Myers Squibb (BMY). During the week, the BMY gained 1.13 points, or 2.00%, and closed at 57.54 on Friday, June 26, 2020. Weekly volume was -33% below average.

BMY is a member of Health Care Sector. Health Care 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 42.48 on July 23, 2019. BMY lost 34.64 points, or 44.92%, in 157 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 41.15 and resistance is at 59.59. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term uptrend had started on July 23, 2019 at 42.48 and reached 68.34 on January 22, 2020. BMY gained -25.86 points, or -60.88%, in 26 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 47.07 and resistance is at 64.25. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle 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 May 22, 2020. 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 downtrend had started on May 15, 2020 at 65.34 and reached 54.07 on June 15, 2020. BMY lost 11.27 points, or 17.25%, in 31 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 50.58 and resistance is at 59.59. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.

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

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

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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) 35.56
Williams' Percentage Range (W%R) 52.00
Lane's Stochastic (%D-Slow) 67.25
Greed/Fear Indicator (GFI) 50.28
Moving Average Converg./Diverg. (MACD) -0.89
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.20
Williams' Percentage Range (W%R) 44.60
Lane's Stochastic (%D-Slow) 43.96
Greed/Fear Indicator (GFI) 50.88
Moving Average Converg./Diverg. (MACD) 0.89
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 64.25
Upper Bollinger Band 62.37
50 Day Moving Average 60.32
Weekly Trendline Resistance 59.59
Yearly Trendline Resistance 59.59
20 Day Moving Average 58.48
Weekly Stochastic Crossing 58.27
Daily Stochastic Crossing 57.88
Price 57.54
Lower Bollinger Band 54.39
Parabolic System 54.31
Weekly Trendline Support 50.58
Quarterly Trendline Support 47.07
Sector and Industry
Description Name Rank
Sector Health Care 10
Industry Health Care Distributors 58
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 54.07
Low Date 06/15/2020
High 59.10
High Date 06/23/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 59.59
Support 50.58
High 65.34
High Date 05/15/2020
Low 54.07
Low Date 06/15/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 45.76
Low Date 03/23/2020
High 65.34
High Date 05/15/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 64.25
Support 47.07
Low 42.48
Low Date 07/23/2019
High 68.34
High Date 01/22/2020
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 59.59
Support 41.15
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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