The Greedy Trader Weekly Analysis
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Weekly %D-Slow Divergence:Bullish
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Lane's Stochastic (%D-Slow)

The Lane's Stochastic indicator developed by George Lane is one of the most useful and widely used momentum oscillators in technical analysis. Lane's Stochastic oscillator uses four indicators to combine relative strength with moving average methods. %K is an un-smoothed RSI. %D is a moving average of %K (fast stochastic). %D-Slow is a longer term moving average of %K, and finally %D-Slow (slow stochastic) Moving Avg. is another moving average. Like other overbought oversold oscillators, they are normalized within a scale of 0 to 100. Buy/sell signals are generated by %D stochastic crossover with its moving average above 80%, for overvalued, or below 20%, for undervalued stocks. The divergence between price and indicator is the most important buy/sell stocks trading signal. Lane's Stochastic bullish divergence/bearish divergence should be considered together with other stock market trading alerts, trading indicator and technical trading techniques.

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- 11/24/2023 -
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Bristol-Myers Squibb (BMY) Technical Analysis

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Summary:
Weekly :Broken trend support lineRelative Strength Index and Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldStochastic has raised above the signal lineLane's Stochastic bullish divergence
Daily :
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It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY dropped -1.08 points, or -2.12%, and closed at 49.76 on Friday, November 24, 2023. Weekly volume was 69% above average.

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 81.31% 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 48.42 on November 20, 2023. BMY lost 33.02 points, or 40.55%, in 50 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend support line (55.84) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 support in a medium-term trend.

Weekly Technical Indicators: [See BMY weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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, Relative Strength Index 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 November 6, 2023 at 53.55 and reached 48.42 on November 20, 2023. BMY lost 5.13 points, or 9.58%, in 14 days. The chart has formed a Falling Channel chart pattern.

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

The daily MACD line is above its signal line since November 22, 2023. The distance between MACD and the signal line is low and getting smaller.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.22
Williams' Percentage Range (W%R) 74.10
Lane's Stochastic (%D-Slow) 23.96
Greed/Fear Indicator (GFI) 27.70
Moving Average Converg./Diverg. (MACD) -1.59
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 12.50
Oversold
Williams' Percentage Range (W%R) 92.20
Strong Oversold
Lane's Stochastic (%D-Slow) 11.97
Oversold Bullish
Greed/Fear Indicator (GFI) 16.82
Oversold
Moving Average Converg./Diverg. (MACD) -3.24
Trading Signals
Description Value Chart
Quarterly Trendline Support 55.84
50 Day Moving Average 54.72
Upper Bollinger Band 53.71
Quarterly Trendline Resistance 52.26
20 Day Moving Average 50.90
Parabolic System 50.51
Weekly Stochastic Crossing 49.76
Price 49.76
Daily Stochastic Crossing 49.11
Lower Bollinger Band 49.06
Sector and Industry
Description Name Rank
Sector Health Care 4
Industry Health Care Distributors 71
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Channel
High 53.55
High Date 11/06/2023
Low 48.42
Low Date 11/20/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 63.41
High Date 08/29/2023
Low 48.42
Low Date 11/20/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 71.07
High Date 04/06/2023
Low 48.42
Low Date 11/20/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Support
Resistance 52.26
Support 55.84
High 81.44
High Date 12/01/2022
Low 48.42
Low Date 11/20/2023
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.