Sell signal, week 2: a new low the close did not confirm
Bristol-Myers Squibb slips 2.7%: a fresh 30-day low that the weekly close fails to confirm
Our view last week
A fresh sell signal fires on Bristol-Myers Squibb, and its weekly MACD drops below its signal line after 9 weeks above it. Yet the week closes almost flat, at -0.3%: buyers regain the upper hand in the weekly bar and money flow climbs back above zero. For Bristol-Myers Squibb stock, signal strength sits at 2 out of 100, a decline losing steam, and the price action stays unsettled: our technical analysis flags a new short here as high-risk for swing trading.
This week's summary
Bristol-Myers Squibb lost 2.7% and printed a new 30-day low during the week, in the 60.2 area, which the close did not confirm. It is the 4th straight weekly decline, and money flow, back above zero a week ago, has turned negative again. For Bristol-Myers Squibb stock the sell signal is gaining pace, with lower lows starting to form, yet price stays squeezed between averages and supports: our technical analysis still flags a new short as a high-risk trade setup for swing trading.
Sell signal in observation
·2nd week from start
·US stocks
·T2
·📅 Earnings · Oct 29
★ See Gold version →
IQS Phase
56
ordinary
Signal Strength
32
decline starting to make lower lows
Sizing
REDUCED
Ranking
#81 / 175
US stocks sell signals
Trade P&L %
+2.72%
from signal to date, no stop loss
Bristol-Myers Squibb (BMY) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 81st among the 175 sell signals for US stocks in our ranking, with a signal strength of 32 out of 100.
Sector context
SectorHealth Care
Benchmark ETFXLV
Sector regimein positive regime
Performanceweekly -2.65% · monthly -3.91%
BMY belongs to the health care sector (reference ETF XLV). The sector is classified in positive regime according to our weekly reading.
restricted Platinum content