- 3/17/2023 -
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Bristol-Myers Squibb (BMY)
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|It was a first positive week after 5 consecutive negative weeks for the Bristol-Myers Squibb (BMY). During the week, the BMY gained 0.82 points, or 1.25%, and closed at 66.53 on Friday, March 17, 2023. BMY was trading at average weekly trading volume. |
Long-term trend: [See BMY long-term trend chart]
A long-term uptrend had started on February 2, 2023 at 69.80 and reached 75.18 on February 6, 2023. BMY gained -5.38 points, or -7.71%, in 0 weeks. The price is now at the 160.78% retracement level.
Medium-term trend: [See BMY medium-term trend chart]
A medium-term downtrend had started on February 6, 2023 at 75.18 and reached 65.28 on March 13, 2023. BMY lost 9.90 points, or 13.17%, in 5 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 64.29 and resistance is at 67.13. 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 Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 weekly MACD line is below its signal line since December 23, 2022. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 15, 2023 at 67.72 and reached 65.86 on March 16, 2023. BMY lost 1.86 points, or 2.75%, in 1 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See BMY daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since February 14, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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.