The Greedy Trader Weekly Analysis
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Yearly Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

Bristol-Myers Squibb (BMY)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is oversold
Daily :The price is below the lower Bollinger BandWilliams' Percentage Range and Lane's Stochastic are oversold
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It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY dropped -2.02 points, or -3.07%, and closed at 63.82 on Friday, May 26, 2023. Weekly volume was -16% below average.

BMY is a member of Health Care Sector. Health Care is the second 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 uptrend had started on July 23, 2019 at 42.48 and reached 81.44 on December 1, 2022. BMY gained -38.96 points, or -91.71%, in 175 weeks. The price is now at the 45.23% retracement level.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term downtrend had started on December 1, 2022 at 81.44 and reached 63.70 on May 26, 2023. BMY lost 17.74 points, or 21.78%, in 25 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 56.07 and resistance is at 66.52. 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 medium-term trend.

Weekly Technical Indicators: [See BMY weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. 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 link to access 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. 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 11, 2023 at 69.10 and reached 63.70 on May 26, 2023. BMY lost 5.40 points, or 7.81%, in 15 days. Price is near the trend low.

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

The daily MACD line is below its signal line since May 15, 2023. This is an indication that the short-term trend is down.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 23.59
Williams' Percentage Range (W%R) 85.00
Oversold
Lane's Stochastic (%D-Slow) 15.35
Oversold
Greed/Fear Indicator (GFI) 17.98
Oversold
Moving Average Converg./Diverg. (MACD) -0.74
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.93
Williams' Percentage Range (W%R) 92.90
Strong Oversold
Lane's Stochastic (%D-Slow) 35.29
Greed/Fear Indicator (GFI) 28.20
Moving Average Converg./Diverg. (MACD) -1.27
Trading Signals
Description Value Chart
Upper Bollinger Band 69.59
50 Day Moving Average 68.19
Parabolic System 67.16
20 Day Moving Average 66.98
Quarterly Trendline Resistance 66.52
Weekly Stochastic Crossing 66.02
Daily Stochastic Crossing 64.25
Lower Bollinger Band 63.94
Price 63.82
Quarterly Trendline Support 56.07
Sector and Industry
Description Name Rank
Sector Health Care 8
Industry Health Care Distributors 87
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 67.16
High Date 05/23/2023
Low 63.70
Low Date 05/26/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 69.10
High Date 05/11/2023
Low 63.70
Low Date 05/26/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 71.07
High Date 04/06/2023
Low 63.70
Low Date 05/26/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 66.52
Support 56.07
High 81.44
High Date 12/01/2022
Low 63.70
Low Date 05/26/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 42.48
Low Date 07/23/2019
High 81.44
High Date 12/01/2022
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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