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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.

Downtrend exhaustion stock alert presents a stock market trading strategy based on combination of timing signals, technical indicators, trend analysis and pattern recognition. Stock market alert is a warning signal. It indicates that long term downtrend is exhausted and probability of long term trend reversal is high. Downtrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for undervalued stocks. The strategy is based on taking long position on anticipation of downtrend reversal. Downtrend exhaustion timing strategy and stock trading system presents alerts for S&P 500 index members, ETFs and market indices. As S&P 500 trading system it shows excellent results for index timing also.

Downtrend Exhaustion

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- 5/17/2024 -
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Bristol-Myers Squibb (BMY) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are oversold
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range is oversold
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It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY dropped -0.91 points, or -2.02%, and closed at 44.03 on Friday, May 17, 2024. Weekly volume was 16% above average.

Long-term trend: [See BMY long-term trend chart]
A long-term downtrend had started on December 1, 2022 at 81.44 and reached 43.33 on May 2, 2024. BMY lost 38.11 points, or 46.80%, in 74 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 40.56 and resistance is at 50.47. 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 long-term trend.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term downtrend had started on March 13, 2024 at 55.04 and reached 43.33 on May 2, 2024. BMY lost 11.71 points, or 21.28%, in 7 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 40.42 and resistance is at 52.70. 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 and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and Lane's Stochastic. 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 April 26, 2024. 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 uptrend had started on May 16, 2024 at 43.68 and reached 44.30 on May 17, 2024. BMY gained -0.62 points, or -1.42%, in 1 days. The price is now at the 43.55% retracement level.

Daily Technical Indicators: [See BMY daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.

The daily MACD line is above its signal line since May 9, 2024. This is an indication that the short-term trend is up.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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) 43.63
Williams' Percentage Range (W%R) 84.40
Oversold
Lane's Stochastic (%D-Slow) 48.66
Greed/Fear Indicator (GFI) 35.96
Moving Average Converg./Diverg. (MACD) -1.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.48
Williams' Percentage Range (W%R) 91.70
Strong Oversold
Lane's Stochastic (%D-Slow) 8.23
Strong Oversold
Greed/Fear Indicator (GFI) 18.21
Oversold
Moving Average Converg./Diverg. (MACD) -2.13
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 52.70
Yearly Trendline Resistance 50.47
50 Day Moving Average 48.89
Upper Bollinger Band 48.88
Parabolic System 45.72
20 Day Moving Average 45.04
Daily Stochastic Crossing 44.37
Weekly Stochastic Crossing 44.27
Price 44.03
Lower Bollinger Band 42.03
Yearly Trendline Support 40.56
Quarterly Trendline Support 40.42
Sector and Industry
Description Name Rank
Sector Health Care 3
Industry Health Care Distributors 34
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 43.68
Low Date 05/16/2024
High 44.30
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.68
Low Date 05/16/2024
High 44.30
High Date 05/17/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.33
Low Date 05/02/2024
High 45.72
High Date 05/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 52.70
Support 40.42
High 55.04
High Date 03/13/2024
Low 43.33
Low Date 05/02/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 50.47
Support 40.56
High 81.44
High Date 12/01/2022
Low 43.33
Low Date 05/02/2024
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.