The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Channel
Number of records: 12
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 :Overbought sectorPrice is near the Fibonacci 38.2% retracement level
Daily :The price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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 climbed 0.53 points, or 1.00%, and closed at 53.46 on Friday, November 30, 2018. Weekly volume was 43% above average.

BMY is a member of Healthcare Sector. Healthcare is the 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 downtrend had started on February 16, 2018 at 70.05 and reached 46.94 on October 25, 2018. BMY lost 23.11 points, or 32.99%, in 35 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 44.92 and resistance is at 63.62. 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 October 9, 2018 at 63.69 and reached 46.94 on October 25, 2018. BMY lost 16.75 points, or 26.30%, in 2 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See BMY weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since October 19, 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 uptrend had started on October 25, 2018 at 46.94 and reached 54.81 on November 16, 2018. BMY gained -7.87 points, or -16.77%, in 22 days. The price is now at the 17.15% 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 November 2, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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) 50.44
Williams' Percentage Range (W%R) 60.80
Lane's Stochastic (%D-Slow) 45.22
Greed/Fear Indicator (GFI) 44.95
Moving Average Converg./Diverg. (MACD) -0.75
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.73
Williams' Percentage Range (W%R) 71.00
Lane's Stochastic (%D-Slow) 31.59
Greed/Fear Indicator (GFI) 34.04
Moving Average Converg./Diverg. (MACD) -0.67
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 63.62
50 Day Moving Average 55.51
Upper Bollinger Band 54.63
Price 53.46
Weekly Stochastic Crossing 52.65
20 Day Moving Average 52.65
Daily Stochastic Crossing 51.80
Lower Bollinger Band 51.18
Parabolic System 49.81
Quarterly Trendline Support 44.92
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Drug Manufacturers/Major 141
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 54.81
High Date 11/16/2018
Low 49.86
Low Date 11/27/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 46.94
Low Date 10/25/2018
High 54.81
High Date 11/16/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 63.69
High Date 10/09/2018
Low 46.94
Low Date 10/25/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 63.62
Support 44.92
High 70.05
High Date 02/16/2018
Low 46.94
Low Date 10/25/2018
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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