BRISTOL-MYERS SQUIBB CO (BMY) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:BMY - US1101221083 - Common Stock
We assign a technical rating of 8 out of 10 to BMY. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, BMY is only an average performer.
- Both the short term and long term trends are positive. This is a very positive sign.
- In the last month BMY has a been trading in the 52.06 - 57.04 range, which is quite wide. It is currently trading near the high of this range.
- BMY has an average volume of 14655000 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 71% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
- BMY is part of the Pharmaceuticals industry. There are 191 other stocks in this industry, BMY did better than 58% of them.
- BMY is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BMY is lagging the market.
BMY has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 55.15, a Stop Loss order could be placed below this zone.
More info and screens
42.88
We found 5 important support areas.
- A support zone ranging from 54.90 to 55.15. 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 53.05 to 53.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @47.90 from a horizontal line in the daily time frame.
- A support zone ranging from 44.23 to 44.40. 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 @61.10 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 | 71.73 | POSITIVE | BMY has a high relative strength, it outperformed 71.73% 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) | DOWN | MIXED | The current price of BMY is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 56.86 | NEUTRAL | The RSI value for BMY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.09 | NEGATIVE | The MACD value suggests BMY has a negative trend. |
| Stochastics (14,3) | 85.14 | OVERBOUGHT | The high Stochastics value suggests BMY may be overbought. |
| Average True Range in percent/ATR (20) | 1.95 | LOW VOLATILITY | The low ATR as a percentage value for BMY suggests low volalility. |
| Average Directional Index/ADX (14) | 35.94 | 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 |
|---|---|---|---|
| 55.67 | 54.89 | 0.77 (1.39%) | 25.00% |
| An entry @55.66. This is a Buy Stop order right above the 10 day moving average. | An exit @54.89. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.77 points, which is 1.39%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.35%. |
- The distance between exit and entry is rather small compared to the average daily movement of BMY. Please evaluate whether better entry and exit points can be found.
- 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.
55.26
-1.36 (-2.4%)
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 8 / 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 56.8597. 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 -0.0938167, 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.