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- 4/19/2024 -
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Bristol-Myers Squibb (BMY) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Bristol-Myers Squibb (BMY). During the week, the BMY gained 0.65 points, or 1.35%, and closed at 48.93 on Friday, April 19, 2024. BMY was trading at average weekly trading volume.
 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. Price is near the trend low.
 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 Symmetric Triangle chart pattern. The uptrend support line (53.85) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. BMY may retest the broken support line. It is considered to be a resistance line now. 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 Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. 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 weekly MACD line is above its signal line since December 29, 2023. This is an indication that the medium-term trend is up. 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 28, 2024 at 54.48 and reached 47.62 on April 18, 2024. BMY lost 6.86 points, or 12.59%, in 21 days. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (48.88). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.
 Daily Technical Indicators: [See BMY daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down.
The distance between the Bollinger Bands is 101.93% higher then one year average. It indicates the period of high 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 20 Day Moving Average 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.
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