The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Channel
Number of records: 5
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 sectorRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtPrice is near the Fibonacci 38.2% retracement level
Daily :The price touches the upper Bollinger BandThe period of low volatility of the stock price
Move cursor over the icon to see details.

It was a second consecutive positive week for the Bristol-Myers Squibb (BMY). During the week, the BMY gained 0.76 points, or 1.26%, and closed at 61.31 on Friday, September 07, 2018. Weekly volume was -29% below average.

BMY is a member of Healthcare Sector. Healthcare is the second 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 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. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term uptrend had started on May 8, 2018 at 49.96 and reached 61.59 on August 17, 2018. BMY gained -11.63 points, or -23.28%, in 14 weeks. Price is near the trend high.

Weekly Technical Indicators: [See BMY weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 above its signal line since July 6, 2018. This is an indication that the medium-term trend is up. 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 August 24, 2018 at 59.63 and reached 61.41 on September 7, 2018. BMY gained -1.78 points, or -2.99%, in 14 days. The price is now at the 5.62% retracement level.

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

The daily MACD line is below its signal line since August 20, 2018. The distance between MACD and the signal line is low and getting smaller.

The price touches the upper Bollinger Band. The distance between the Bollinger Bands is falling, and it was 3.59% on Friday. It is 59.10% lower than one year average. It indicates the period of low 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.17
Williams' Percentage Range (W%R) 33.30
Lane's Stochastic (%D-Slow) 74.36
Greed/Fear Indicator (GFI) 65.06
Moving Average Converg./Diverg. (MACD) 0.74
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 89.63
Overbought
Williams' Percentage Range (W%R) 7.50
Strong Overbought
Lane's Stochastic (%D-Slow) 86.15
Overbought
Greed/Fear Indicator (GFI) 80.47
Overbought
Moving Average Converg./Diverg. (MACD) -0.64
Trading Signals
Description Value Chart
Upper Bollinger Band 61.35
Price 61.31
Daily Stochastic Crossing 61.04
Weekly Stochastic Crossing 60.77
20 Day Moving Average 60.42
Parabolic System 60.07
Lower Bollinger Band 59.14
50 Day Moving Average 58.59
Sector and Industry
Description Name Rank
Sector Healthcare 8
Industry Drug Manufacturers/Major 142
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 59.63
Low Date 08/24/2018
High 61.41
High Date 09/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 49.96
Low Date 05/08/2018
High 61.59
High Date 08/17/2018
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 Uptrend
Status
Resistance
Support
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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