Bristol-Myers Squibb Stock Forecast
Bristol-Myers Squibb stock price up 1.30% on Friday
(Updated on Apr 19, 2024)
The Bristol-Myers Squibb stock price gained 1.30% on the last trading day (Friday, 19th Apr 2024), rising from $48.30 to $48.93. During the last trading day the stock fluctuated 1.93% from a day low at $48.12 to a day high of $49.05. The price has fallen in 6 of the last 10 days and is down by -4.66% for this period. Volume fell on the last day by -2 million shares and in total, 8 million shares were bought and sold for approximately $395.69 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 lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $47.89 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.06% during the next 3 months and, with a 90% probability hold a price between $49.36 and $56.80 at the end of this 3-month period.
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BMY Signals & Forecast
There are mixed signals in the stock today. The Bristol-Myers Squibb stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $51.55. On a fall, the stock will find some support from the short-term average at $48.46. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.28%. 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.
Support, Risk & Stop-loss for Bristol-Myers Squibb stock
Bristol-Myers Squibb finds support from accumulated volume at $48.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.93 between high and low, or 1.93%. For the last week, the stock has had daily average volatility of 1.63%.
Bristol-Myers Squibb is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $46.39 (-5.20%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (BMY) 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 $48.70, and during the day (based on 14 day Average True Range), to move between $48.01 and $49.85, which gives a possible trading interval of +/-$0.92 (+/-1.89%) 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 3.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $48.71 (0.45%) than the resistance at $49.86 (1.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Bristol-Myers Squibb will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is -$4.51. We will update the financials statements for Bristol-Myers Squibb, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.91% in the first trading day after earnings release.
Is Bristol-Myers Squibb Company stock A Buy?
Bristol-Myers Squibb holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.021 Hold/Accumulate Unchanged
Predicted Opening Price for Bristol-Myers Squibb Company of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$48.70 ( 0.472%) | $48.93 |
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 | 49.63 | 1.42 % | |
R2 | 49.27 | 0.700 % | ||
R1 | 49.05 | 0.252 % | ||
Current price: | 48.93 | |||
Support | S1 | 48.34 | -1.20 % | |
S2 | 48.13 | -1.64 % | ||
S3 | 47.77 | -2.37 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 51.59 | 5.44 % | |
R2 | 50.92 | 4.07 % | ||
R1 | 49.86 | 1.90 % | ||
Current price | 48.93 | |||
Support | S1 | 48.71 | -0.450% | |
S2 | 48.67 | -0.531% | ||
S3 | 47.98 | -1.94% |
BMY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 06, 2024 | May 06, 2024 | Jun 03, 2024 | $0.500 | 1.02% |
2 | Mar 01, 2024 | Apr 04, 2024 | May 01, 2024 | $0.600 | 1.23% |
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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