BRISTOL-MYERS SQUIBB CO (BMY) Stock Technical Analysis
NYSE:BMY • US1101221083
Taking everything into account, BMY scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, BMY is showing a nice and steady performance.
- Both the short term and long term trends are positive. This is a very positive sign.
- BMY is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BMY is lagging the market slightly.
- BMY is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- BMY has an average volume of 14666300 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, BMY did better than 80% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
- BMY is an average performer in the Pharmaceuticals industry, it outperforms 64% of 191 stocks in the same industry.
BMY has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price.
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42.88
We found 6 important support areas.
- A support zone ranging from 56.35 to 57.04. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 54.22 to 55.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @53.05 from a horizontal line in the daily time frame.
- Support @47.87 from a horizontal line in the daily time frame.
- A support zone ranging from 44.23 to 44.64. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Support @43.31 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- Resistance @62.00 from a horizontal line in the weekly time frame.
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 | UP | POSITIVE | The long term trend for BMY is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BMY is up. |
| ChartMill Relative Strength | 80.62 | POSITIVE | BMY has a high relative strength, it outperformed 80.62% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BMY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BMY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BMY is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 67.28 | NEUTRAL | The RSI value for BMY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.32 | POSITIVE | The MACD value suggests BMY has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 76.11 | NEUTRAL | The Stochastics value for BMY is a neutral value. |
| Average True Range in percent/ATR (20) | 2.32 | MEDIUM VOLATILITY | The ATR as a percentage value for BMY suggests some volalility. |
| Average Directional Index/ADX (14) | 40.13 | POSITIVE | The high ADX value value for BMY suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 62.01 | 54.95 | 7.06 (11.39%) | 8.78% |
| An entry @62.01. This is a Buy Stop order right above the resistance zone. | An exit @54.95. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 7.06 points, which is 11.39%. | For a 1.00% total portfolio risk, you can invest 8.78% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
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+0.88 (+1.47%)
BRISTOL-MYERS SQUIBB CO / BMY FAQ
What is the ChartMill technical rating of BRISTOL-MYERS SQUIBB CO (BMY) stock?
ChartMill assigns a technical rating of 9 / 10 to BMY.
What is the trend direction for BMY stock?
The current trend direction for BRISTOL-MYERS SQUIBB CO (BMY) is Bullish.
What is the RSI signal for BMY stock?
BRISTOL-MYERS SQUIBB CO (BMY) has an RSI value of 67.2847. This indicates that the stock is currently neutral.
What is the MACD signal for BMY stock?
The MACD indicator for BRISTOL-MYERS SQUIBB CO (BMY) has a value of 0.321109, indicating a bearish trend.
What is the short term momentum for BRISTOL-MYERS SQUIBB CO (BMY) stock?
The short term momentum for BRISTOL-MYERS SQUIBB CO (BMY) is positive.