The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Channel
Number of records: 6
Symbol:  

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Channeling Stock - rising channel and falling channel.
Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
channeling stock,stock channeling,rising channel,falling channel,Price Channel
Bristol-Myers Squibb
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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are oversold
Daily :The Bollinger Bands are historically close together
Move cursor over the icon to see details.

It was a fifth consecutive positive week for the Bristol-Myers Squibb (BMY). During the week, the BMY climbed 0.03 points, or 0.06%, and closed at 53.16 on Friday, June 08, 2018. Weekly volume was 16% above average.

Long-term trend: [See BMY long-term trend chart]
A long-term uptrend had started on January 26, 2017 at 46.01 and reached 70.05 on February 16, 2018. BMY gained -24.04 points, or -52.25%, in 55 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (62.99) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term downtrend had started on February 16, 2018 at 70.05 and reached 49.96 on May 8, 2018. BMY lost 20.09 points, or 28.68%, in 11 weeks. The price is now at the 15.93% retracement level.

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 March 23, 2018. 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 30, 2018 at 53.45 and reached 49.97 on June 4, 2018. BMY lost 3.48 points, or 6.51%, in 5 days. The price is now at the 91.67% 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 April 30, 2018. The distance between MACD and the signal line is low and getting smaller.

The distance between the Bollinger Bands (3.31%) is close to one year low (3.06%). It is 62.48% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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) 53.15
Williams' Percentage Range (W%R) 23.80
Lane's Stochastic (%D-Slow) 70.23
Greed/Fear Indicator (GFI) 66.51
Moving Average Converg./Diverg. (MACD) -0.56
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 23.72
Williams' Percentage Range (W%R) 86.80
Oversold
Lane's Stochastic (%D-Slow) 14.34
Oversold
Greed/Fear Indicator (GFI) 20.06
Moving Average Converg./Diverg. (MACD) -1.51
Trading Signals
Description Value Chart
Quarterly Trendline Support 62.99
50 Day Moving Average 54.13
Upper Bollinger Band 53.54
Price 53.16
Daily Stochastic Crossing 52.65
20 Day Moving Average 52.47
Lower Bollinger Band 51.78
Weekly Stochastic Crossing 51.52
Parabolic System 51.41
Sector and Industry
Description Name Rank
Sector Healthcare 7
Industry Drug Manufacturers/Major 77
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 53.45
High Date 05/30/2018
Low 49.97
Low Date 06/04/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 49.96
Low Date 05/08/2018
High 53.45
High Date 05/30/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 70.05
High Date 02/16/2018
Low 49.96
Low Date 05/08/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 73.62
Support 62.99
Low 46.01
Low Date 01/26/2017
High 70.05
High Date 02/16/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 77.12
High Date 07/15/2016
Low 46.01
Low Date 01/26/2017
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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