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|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.