Bristol-Myers Squibb Company Stock Forecast
Green day on Friday for Bristol-Myers Squibb Company stock after gaining 1.46%
(Updated on Apr 19, 2024)
The Bristol-Myers Squibb Company stock price gained 1.46% on the last trading day (Friday, 19th Apr 2024), rising from £548.00 to £556.00. During the last trading day the stock fluctuated 4.04% from a day low at £544.00 to a day high of £566.00. The price has risen in 5 of the last 10 days and is up by 6.92% over the past 2 weeks. Volume fell on the last day by -89 thousand shares and in total, 141 thousand shares were bought and sold for approximately £78.63 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 middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.35% during the next 3 months and, with a 90% probability hold a price between £607.98 and £704.21 at the end of this 3-month period.
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BMY.L Signals & Forecast
The Bristol-Myers Squibb Company 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 £551.14 and £538.69. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -2.63%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bristol-Myers Squibb Company stock
Bristol-Myers Squibb Company finds support from accumulated volume at £552.00 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 £22.00 (4.04%) between high and low. For the last week, the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: £534.42 (-3.88%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 36 days ago.)
Trading Expectations (BMY.L) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Bristol-Myers Squibb Company to open at £555.33, and during the day (based on 14 day Average True Range), to move between £538.66 and £573.34, which gives a possible trading interval of +/-£17.34 (+/-3.12%) 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 6.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £552.00 (0.72%) than the resistance at £563.00 (1.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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 Company stock to perform well in the short-term.
Current score: 4.318 Buy Candidate Unchanged
Predicted Opening Price for Bristol-Myers Squibb Company of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| £555.33 ( 0.120%) | £556.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMY.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 577.33 | 3.84 % | |
| R2 | 568.93 | 2.33 % | ||
| R1 | 563.74 | 1.39 % | ||
| Current price: | 556.00 | |||
| Support | S1 | 546.93 | -1.63 % | |
| S2 | 541.74 | -2.57 % | ||
| S3 | 533.33 | -4.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 571.00 | 2.70 % | ||
| R1 | 563.00 | 1.26 % | ||
| Current price | 556.00 | |||
| Support | S1 | 552.00 | -0.719% | |
| S2 | 518.00 | -6.83% | ||
| S3 | 491.50 | -11.60% |
BMY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 02, 2023 | Nov 02, 2023 | Nov 02, 2023 | £0 | 0% |
| 2 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | £10.34 | 2.37% |
| 3 | Oct 26, 2022 | Nov 03, 2022 | Dec 02, 2022 | £1.41 | 0.293% |
| 4 | Jun 15, 2022 | Jul 28, 2022 | Aug 26, 2022 | £9.40 | 2.25% |
| 5 | Oct 27, 2021 | Nov 04, 2021 | Dec 03, 2021 | £1.34 | 0.379% |
FAQ
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