BMY Technical Analysis - BRISTOL-MYERS SQUIBB CO

Technical Rating and Analysis

Overall BMY gets a technical rating of 0 out of 10. BMY scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

When comparing the yearly performance of all stocks, BMY is a bad performer in the overall market: 84% of all stocks are doing better.

BMY is one of the lesser performing stocks in the Pharmaceuticals industry. 60% of 195 stocks in the same industry do better.

BMY is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

In the last month BMY has a been trading in the 43.19 - 48.58 range, which is quite wide. It is currently trading near the lows of this range.

BMY has an average volume of 13647900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

BRISTOL-MYERS SQUIBB CO / BMY Weekly stock chart

BRISTOL-MYERS SQUIBB CO / BMY Daily stock chart

Setup Rating and Analysis

Although the technical rating is bad, BMY does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 43.60, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

42.87

49.48

When analyzing the support we notice one important area.

A support zone ranging from 43.30 to 43.60. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 2 important resistance areas.

A resistance zone ranging from 45.76 to 46.33. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 47.13 to 48.99. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for BMY is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for BMY is down.
ChartMill Relative Strength	16.95	NEGATIVE	BMY has a low relative strength, it was outperformed by 83.05% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of BMY is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of BMY is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of BMY is below a declining SMA(200).
Relative Strength Index/RSI (14)	38.77	NEUTRAL	The RSI value for BMY is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.1	NEGATIVE	The MACD value suggests BMY has a negative trend.
Stochastics (14,3)	8.19	OVERSOLD	The low Stochastics value suggests BMY may be oversold.
Average True Range in percent/ATR (20)	2.49	MEDIUM VOLATILITY	The ATR as a percentage value for BMY suggests some volalility.
Average Directional Index/ADX (14)	12.85	NEGATIVE	The low ADX value for BMY suggests a weak or negative trend.