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. Although BMY is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Besides having an excellent technical rating, BMY also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
42.88
4 important support areas can be observed.
- A support zone ranging from 50.64 to 51.11. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 47.90 to 48.48. 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 44.22 to 44.23. 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.
2 important resistance areas can be observed.
- Resistance @54.72 from a horizontal line in the daily time frame.
- 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 | 68.33 | NEUTRAL | BMY is not amongst the best or worst performers 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) | 69.15 | NEUTRAL | The RSI value for BMY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.06 | POSITIVE | The MACD value suggests BMY has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 91.96 | OVERBOUGHT | The high Stochastics value suggests BMY may be overbought. |
| Average True Range in percent/ATR (20) | 2.23 | MEDIUM VOLATILITY | The ATR as a percentage value for BMY suggests some volalility. |
| Average Directional Index/ADX (14) | 38.93 | 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 |
|---|---|---|---|
| 54.73 | 52.00 | 2.73 (4.99%) | 20.05% |
| An entry @54.73. This is a Buy Stop order right above the resistance zone. | An exit @52.00. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 2.73 points, which is 4.99%. | When investing 20.05% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
54.64
-0.07 (-0.13%)
BRISTOL-MYERS SQUIBB CO / BMY FAQ
Can you provide the ChartMill technical rating for BRISTOL-MYERS SQUIBB CO?
ChartMill assigns a technical rating of 8 / 10 to BMY.
What is the current trend direction of BRISTOL-MYERS SQUIBB CO (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 69.1548. This indicates that the stock is currently neutral.
What is the buy/sell signal for BRISTOL-MYERS SQUIBB CO (BMY) stock?
The buy/sell signal for BRISTOL-MYERS SQUIBB CO (BMY) is buy as both the short term and long term trends are positive.
What is the support and resistance level for BMY stock?
BRISTOL-MYERS SQUIBB CO (BMY) has a support level at 51.11 and a resistance level at 54.72. Check the full technical report for our detailed analysis of BMY support and resistance levels.