The Greedy Trader Weekly Analysis
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Bristol-Myers Squibb
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Summary:
Weekly :Oversold sector
Daily :Stochastic signal line moved below overbought areaThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving Average
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It was the negative week for the Bristol-Myers Squibb (BMY). During the week, the BMY dropped -0.82 points, or -1.30%, and closed at 62.42 on Friday, December 08, 2017. Weekly volume was -40% 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 58.23 and resistance is at 69.25. 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 41.68% 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, 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 uptrend had started on October 27, 2017 at 59.79 and reached 63.87 on December 4, 2017. BMY gained -4.08 points, or -6.82%, in 38 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See BMY daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 Lane's Stochastic help.

The daily MACD line is above its signal line since November 24, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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) 57.99
Williams' Percentage Range (W%R) 55.10
Lane's Stochastic (%D-Slow) 35.45
Greed/Fear Indicator (GFI) 46.11
Moving Average Converg./Diverg. (MACD) -0.07
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.05
Williams' Percentage Range (W%R) 30.50
Lane's Stochastic (%D-Slow) 32.51
Greed/Fear Indicator (GFI) 50.53
Moving Average Converg./Diverg. (MACD) 1.69
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 69.25
Parabolic System 63.81
Upper Bollinger Band 63.59
50 Day Moving Average 62.73
Price 62.42
Daily Stochastic Crossing 61.79
Weekly Stochastic Crossing 61.76
20 Day Moving Average 61.76
Lower Bollinger Band 60.52
Quarterly Trendline Support 58.23
Sector and Industry
Description Name Rank
Sector Healthcare 1
Industry Drug Manufacturers/Major 54
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 59.79
Low Date 10/27/2017
High 63.87
High Date 12/04/2017
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 69.25
Support 58.23
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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