The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Channel
Number of records: 5
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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 :Oversold sector
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtPrice has crossed above the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was a third consecutive positive week for the Bristol-Myers Squibb (BMY). During the week, the BMY gained 1.81 points, or 2.95%, and closed at 63.24 on Friday, December 01, 2017. It was the best weekly gain since September 8, 2017. Weekly volume was -32% below average.

BMY is a member of Healthcare Sector. Healthcare is the most oversold 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 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 57.95 and resistance is at 68.98. 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 59.79 on October 27, 2017. BMY lost 6.31 points, or 9.55%, in 2 weeks. The price is now at the 54.68% 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 and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 27, 2017 at 59.79 and reached 63.80 on November 30, 2017. BMY gained -4.01 points, or -6.71%, in 34 days. The chart has formed a Falling Pennant chart pattern.

Daily Technical Indicators: [See BMY daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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.

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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 4.74% on Friday. It is 50.24% 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.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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) 73.43
Williams' Percentage Range (W%R) 17.50
Overbought
Lane's Stochastic (%D-Slow) 83.48
Overbought
Greed/Fear Indicator (GFI) 79.79
Moving Average Converg./Diverg. (MACD) -0.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.11
Williams' Percentage Range (W%R) 20.90
Lane's Stochastic (%D-Slow) 33.20
Greed/Fear Indicator (GFI) 54.32
Moving Average Converg./Diverg. (MACD) 1.73
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 68.98
Upper Bollinger Band 63.61
Daily Stochastic Crossing 63.36
Price 63.24
50 Day Moving Average 62.84
Weekly Stochastic Crossing 61.82
20 Day Moving Average 61.79
Parabolic System 60.64
Lower Bollinger Band 60.63
Quarterly Trendline Support 57.95
Sector and Industry
Description Name Rank
Sector Healthcare 1
Industry Drug Manufacturers/Major 63
Daily Trend
Description Value
Direction Up
Chart Pattern Falling Pennant
Low 59.79
Low Date 10/27/2017
High 63.80
High Date 11/30/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 66.10
High Date 10/13/2017
Low 59.79
Low Date 10/27/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 51.56
Low Date 06/07/2017
High 66.10
High Date 10/13/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 68.98
Support 57.95
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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