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Advanced TA SearchArchive - 5/10/2024 - Sign In to see current Signals. |
Bristol-Myers Squibb (BMY) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a first positive week for the Bristol-Myers Squibb (BMY). During the week, the BMY gained 0.95 points, or 2.16%, and closed at 44.94 on Friday, May 10, 2024. It was the best weekly gain since March 28, 2024. Weekly volume was -19% below 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 40.97 and resistance is at 50.88. 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 41.74 and resistance is at 52.95. 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 oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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 2, 2024 at 43.33 and reached 44.97 on May 10, 2024. BMY gained -1.64 points, or -3.78%, in 8 days. Price is near the trend high. 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. During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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. The distance between the Bollinger Bands is 123.90% higher then one year average. It indicates the period of high volatility of the stock price. 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.
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