The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Channel
Number of records: 7
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 :
Daily :Daily  MACD line has moved below its signal lineThe price is close to the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
Move cursor over the icon to see details.

It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY dropped -0.78 points, or -1.23%, and closed at 62.70 on Friday, February 09, 2018. It was the worst weekly loss since December 22, 2017. Weekly volume was 122% 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 66.10 on October 13, 2017. BMY gained -20.09 points, or -43.66%, in 37 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 60.56 and resistance is at 71.59. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term downtrend had started on October 13, 2017 at 66.10 and reached 58.44 on February 6, 2018. BMY lost 7.66 points, or 11.59%, in 16 weeks. The price is now at the 55.61% retracement 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 November 17, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 February 5, 2018 at 65.89 and reached 58.44 on February 6, 2018. BMY lost 7.45 points, or 11.31%, in 1 days. The price is now at the 57.18% retracement level.

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

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

The price is close to 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.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.67
Williams' Percentage Range (W%R) 34.80
Lane's Stochastic (%D-Slow) 40.82
Greed/Fear Indicator (GFI) 50.91
Moving Average Converg./Diverg. (MACD) 0.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.01
Williams' Percentage Range (W%R) 36.50
Lane's Stochastic (%D-Slow) 61.21
Greed/Fear Indicator (GFI) 59.13
Moving Average Converg./Diverg. (MACD) 1.21
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 71.59
Parabolic System 65.51
Upper Bollinger Band 64.84
Weekly Stochastic Crossing 63.23
20 Day Moving Average 62.70
Price 62.70
50 Day Moving Average 62.31
Daily Stochastic Crossing 62.23
Quarterly Trendline Support 60.56
Lower Bollinger Band 60.28
Sector and Industry
Description Name Rank
Sector Healthcare 6
Industry Drug Manufacturers/Major 60
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 58.44
Low Date 02/06/2018
High 64.77
High Date 02/08/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 65.89
High Date 02/05/2018
Low 58.44
Low Date 02/06/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 66.10
High Date 10/13/2017
Low 58.44
Low Date 02/06/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 71.59
Support 60.56
Low 46.01
Low Date 01/26/2017
High 66.10
High Date 10/13/2017
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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