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Archive
- 11/8/2024 -
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Bristol-Myers Squibb (BMY) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY gave back -0.18 points, or -0.33%, and closed at 54.14 on Friday, November 8, 2024. Weekly volume was -22% below average.
BMY is a member of Health Care Sector. Health Care 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 December 1, 2022 at 81.44 and reached 39.35 on July 5, 2024. BMY lost 42.09 points, or 51.68%, in 83 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (32.11) 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 long-term trend.
 Medium-term trend: [See BMY medium-term trend chart]
A medium-term uptrend had started on July 5, 2024 at 39.35 and reached 56.80 on November 6, 2024. BMY gained -17.45 points, or -44.35%, in 17 weeks. The price is now at the 15.24% retracement level.
 Weekly Technical Indicators: [See BMY weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish 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, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since July 19, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 6, 2024 at 56.80 and reached 53.97 on November 8, 2024. BMY lost 2.83 points, or 4.98%, in 2 days. The price is now at the 6.01% retracement level.
 Daily Technical Indicators: [See BMY daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since October 30, 2024. The distance between MACD and the signal line is low and getting smaller.
A Parabolic SAR (stop and reversal) indicator (53.77) comes close to the price (54.14). It indicates that the trend is getting weaker. 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.
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