Bristol-Myers Squibb Stock Forecast
Bristol-Myers Squibb stock price ended at $54.23 on Thursday, after gaining 1.84%.
(Updated on Mar 28, 2024)
The Bristol-Myers Squibb stock price gained 1.84% on the last trading day (Thursday, 28th Mar 2024), rising from $53.25 to $54.23. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.03% from a day low at $53.39 to a day high of $54.48. The price has risen in 7 of the last 10 days and is up by 3.31% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 9 million shares were bought and sold for approximately $509.84 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $54.89 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.75% during the next 3 months and, with a 90% probability hold a price between $51.84 and $57.50 at the end of this 3-month period.
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BMY Signals & Forecast
The Bristol-Myers Squibb stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $52.53 and $51.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 5.12%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bristol-Myers Squibb stock
Bristol-Myers Squibb finds support from accumulated volume at $51.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.09 (2.03%) between high and low. For the last week, the stock has had daily average volatility of 1.63%.
Our recommended stop-loss: $51.95 (-4.21%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (BMY) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Bristol-Myers Squibb Company to open at $54.03, and during the day (based on 14 day Average True Range), to move between $53.19 and $55.27, which gives a possible trading interval of +/-$1.04 (+/-1.92%) up or down from last closing price. If Bristol-Myers Squibb Company takes out the full calculated possible swing range there will be an estimated 3.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $54.36 (0.24%) than the support at $51.59 (4.87%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Bristol-Myers Squibb Company stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bristol-Myers Squibb stock to perform well in the short-term.
Current score: 2.766 Buy Candidate Unchanged
Predicted Opening Price for Bristol-Myers Squibb Company of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$54.03 ( 0.366%) | $54.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 55.12 | 1.64 % | |
R2 | 54.70 | 0.87 % | ||
R1 | 54.45 | 0.399 % | ||
Current price: | 54.23 | |||
Support | S1 | 53.62 | -1.13 % | |
S2 | 53.36 | -1.60 % | ||
S3 | 52.95 | -2.37 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 54.40 | 0.313 % | ||
R1 | 54.36 | 0.240 % | ||
Current price | 54.23 | |||
Support | S1 | 51.59 | -4.87% | |
S2 | 50.92 | -6.10% | ||
S3 | 48.71 | -10.18% |
BMY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 06, 2024 | May 06, 2024 | Jun 03, 2024 | $0.500 | 0.92% |
2 | Mar 01, 2024 | Apr 04, 2024 | May 01, 2024 | $0.600 | 1.11% |
3 | Dec 06, 2023 | Jan 04, 2024 | Feb 01, 2024 | $0.600 | 1.23% |
4 | Sep 20, 2023 | Oct 05, 2023 | Nov 01, 2023 | $0.570 | 1.11% |
5 | Jun 14, 2023 | Jul 06, 2023 | Aug 01, 2023 | $0.570 | 0.93% |
FAQ
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