BMY Forecast and Technical Stock Analysis
Buy candidate since 2019-08-16
Bristol-Myers Squibb Company gained 2.69% in the last trading day ( Friday, 16th Aug 2019 ), rising from $45.75 to $46.98 , and has now gained 3 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 day the stock fluctuated 2.80% from a day low at $45.78 to a day high of $47.06. The price has risen in 6 of the last 10 days and is up by 2.15% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.92 million more shares were traded than the day before. In total, 9.41 million shares bought and sold for approximately $442.11 million.
- 30 day high of the BMY stock price was $47.84 and low was $42.48.
- 90 day high was $49.55 and low was $42.48.
- 52 week high for Bristol-Myers Squibb Company - $63.69 and low - $42.48.
Bristol-Myers Squibb Company lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.59% during the next 3 months and, with 90% probability hold a price between $40.71 and $46.50 at the end of this period.
Only positive signals in the chart today. Bristol-Myers Squibb Company holds buy signals from both short- and long-term moving averages. In addition, 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 $46.57 and $45.32. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday August 14, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 60 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Bristol-Myers Squibb Company finds support from accumulated volume at $45.77.
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 $1.28 (2.80%) between high and low. For the last week, the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: $44.59 (-5.09%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)
2.30 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
|BMY $46.98 ($1.23 2.69%)|
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Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
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