The Greedy Trader Weekly Analysis
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Bristol-Myers Squibb
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Summary:
Weekly :Overbought sectorBroken trend support line
Daily :Williams' Percentage Range is overboughtMACD bearish divergenceThe price touches the upper Bollinger Band
Move cursor over the icon to see details.

It was a ninth consecutive positive week for the Bristol-Myers Squibb (BMY). During the week, the BMY gained 1.22 points, or 2.20%, and closed at 56.56 on Friday, July 06, 2018. Weekly volume was -29% below average.

BMY is a member of Healthcare Sector. Healthcare is the 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. The chart has formed a Rising Channel chart pattern. The uptrend support line (63.90) 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 long-term trend.

Medium-term trend: [See BMY medium-term trend chart]
A medium-term downtrend had started on February 16, 2018 at 70.05 and reached 49.96 on May 8, 2018. BMY lost 20.09 points, or 28.68%, in 11 weeks. The price is now at the 32.85% 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 March 23, 2018. 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 June 4, 2018 at 49.97 and reached 56.91 on July 5, 2018. BMY gained -6.94 points, or -13.89%, in 31 days. The chart has formed a Rising Wedge chart pattern.

Daily Technical Indicators: [See BMY daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since April 30, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

The price touches the upper Bollinger Band. 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) 62.90
Williams' Percentage Range (W%R) 16.00
Overbought
Lane's Stochastic (%D-Slow) 77.99
Greed/Fear Indicator (GFI) 74.98
Moving Average Converg./Diverg. (MACD) 0.52 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.71
Williams' Percentage Range (W%R) 68.80
Lane's Stochastic (%D-Slow) 59.78
Greed/Fear Indicator (GFI) 45.07
Moving Average Converg./Diverg. (MACD) -2.03
Trading Signals
Description Value Chart
Quarterly Trendline Support 63.90
Upper Bollinger Band 56.60
Price 56.56
Daily Stochastic Crossing 56.31
Parabolic System 54.98
Weekly Stochastic Crossing 54.84
20 Day Moving Average 54.50
50 Day Moving Average 53.08
Lower Bollinger Band 52.66
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Drug Manufacturers/Major 99
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 49.97
Low Date 06/04/2018
High 56.91
High Date 07/05/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 49.96
Low Date 05/08/2018
High 56.91
High Date 07/05/2018
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 Rising Channel
Status Broken Support
Resistance 74.53
Support 63.90
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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