Bristol-Myers Squibb: signal under tension near the highs
Bristol-Myers Squibb slips 0.6% as a daily hammer rejects the drop near the highs
Our view last week
Bristol-Myers Squibb stock is back near its weekly highs, and the trend is gaining conviction: the weekly ADX has been climbing for six weeks and the price now sits above the 50-week average. The buy signal is in its 5th week, up 5% since entry, but buyers are showing early fatigue as the stock approaches a level already tested several times before.
This week's summary
Bristol-Myers Squibb stock closed the week down 0.6%, but a daily hammer rejected the drop right at the edge of a high already tested three times over the last ten weeks. On the weekly chart, though, fatigue signs are piling up: contracting volumes and sellers back in control of the last candle. The technical analysis still reads positive: the buy signal, in its 6th week, is running at +9.6% since entry, with the stop already at breakeven.
IQS Phase
74
in tension
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#100 / 175
US stocks in progress
Trade P&L %
+9.61%
from signal to date, no stop loss
Rank position
ranks 100th among the 175 Longs already running for US stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorHealth Care
Benchmark ETFXLV
Sector regimein positive regime
Performanceweekly -1.98% · monthly +2.96%
BMY belongs to the health care sector (reference ETF XLV). The sector is classified in positive regime according to our weekly reading.
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