The Greedy Trader Weekly Analysis
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Monthly Price vs. Trendline:Broken Support
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Trend Line Resistance Trend Line Support Resistance.

Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.

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- 3/15/2024 -
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Bristol-Myers Squibb (BMY) Technical Analysis

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Summary:
Weekly :Broken trend support lineBroken trend resistance line
Daily :The price has fallen below the Parabolic SAR
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It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY dropped -1.45 points, or -2.70%, and closed at 52.34 on Friday, March 15, 2024. It was the worst weekly loss since January 12, 2024. Weekly volume was 59% above average.

Long-term trend: [See BMY long-term trend chart]
A long-term downtrend had started on December 1, 2022 at 81.44 and reached 47.58 on February 6, 2024. BMY lost 33.86 points, or 41.58%, in 61 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (42.26) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term uptrend had started on February 6, 2024 at 47.58 and reached 55.04 on March 13, 2024. BMY gained -7.46 points, or -15.68%, in 5 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (53.60) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

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

The weekly MACD line is above its signal line since December 29, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 March 13, 2024 at 55.04 and reached 51.81 on March 14, 2024. BMY lost 3.23 points, or 5.87%, in 1 days. The price is now at the 16.41% 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 February 8, 2024. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.00
Williams' Percentage Range (W%R) 44.50
Lane's Stochastic (%D-Slow) 62.61
Greed/Fear Indicator (GFI) 60.70
Moving Average Converg./Diverg. (MACD) 0.77
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.56
Williams' Percentage Range (W%R) 48.40
Lane's Stochastic (%D-Slow) 59.16
Greed/Fear Indicator (GFI) 54.17
Moving Average Converg./Diverg. (MACD) -2.88
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 55.36
Parabolic System 55.03
Upper Bollinger Band 54.72
Quarterly Trendline Support 53.60
Daily Stochastic Crossing 53.57
Weekly Stochastic Crossing 52.55
Price 52.34
20 Day Moving Average 51.83
50 Day Moving Average 50.63
Lower Bollinger Band 49.16
Yearly Trendline Resistance 48.79
Yearly Trendline Support 42.26
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Distributors 69
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 55.04
High Date 03/13/2024
Low 51.81
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 55.04
High Date 03/13/2024
Low 51.81
Low Date 03/14/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 55.04
High Date 03/13/2024
Low 51.81
Low Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 55.36
Support 53.60
Low 47.58
Low Date 02/06/2024
High 55.04
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 48.79
Support 42.26
High 81.44
High Date 12/01/2022
Low 47.58
Low Date 02/06/2024
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.