Bristol-Myers Squibb Company (BMY)

BMY stock forecast: buy or sell

BMY stock outlook

  • Bristol-Myers Squibb stock slightly changed 0.39% to close at $58.99 on the stock market today, breaking a streak of 5 sessions in red.
  • Raymond James posted a bullish rating for Bristol-Myers Squibb yesterday, targeting $78.00
  • Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide.
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Please read:
The opinions written in this post are personal and not recommendations for you to buy or sell shares. The author of this paper does not know the individual conditions of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are published for education purposes only

BMY stock charts overview

Should I buy Bristol-Myers Squibb stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is BMY stock a buy?

In the current situation of Bristol-Myers Squibb there is not any eligible buy setup. This doesn't mean we expect a selloff for BMY in coming sessions, or that it may not climb higher. Simply, it doesn't match our recommended trading systems

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Should I sell Bristol-Myers Squibb stock?

When you own stock shares with some profit, it's really hard to decide the good moment to sell and get your profits. Trading strategies prevent us from making impetuous decisions based on our moods or the noise surrounding the market. We like very simple setups to guide us on when is the best moment to sell our shares. Be aware that these setups are not intended for shorting Bristol-Myers Squibb stock

As a rule of thumb, you should never hold a trade that shows a losses greater than those expected by the time of the buy. The moment to sell your stock should always be ruled by the stop-loss (automatic or manual)

Is it time to sell Bristol-Myers Squibb stock?

Currently, Bristol-Myers Squibb stock doesn't match any of our preferred sell setups, so if you hold Bristol-Myers Squibb stock and your operation is in profit probably is not time to sell now

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Analysts' recommendations to buy or sell Bristol-Myers Squibb stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the last 30 days, just one rating was published for Bristol-Myers Squibb

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Bristol-Myers Squibb ratings

Brokerage firmRating
Sep 22nd, 2020
Raymond James Buy

Technical analysis

SMAs overview

A favorite tool of many traders are the moving averages, that easily show market momentum. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Moving averages are usually calculated on different periods depending on the trading timeframe 21, 50, 100 and 200 days are the most usual moving averages

Supports and resistances

Investors use support and resistance levels to spot price points in the stock price action that may behave as obstacles, preventing the price of a stock to move up or down. Supports are levels where the price may stop as it falls. Price is more likely to "bounce off" this level rather than break through it. However, if the price breaks down the support, it will probably continue descending until approaching another support level. On the other hand, resistances are where the price may find resistance as it rises. In the same way, this means that the price is more liable to "rebound" at this level, and if it finally breaks this level, it will rally easily until it finds the next resistance

The current resistance levels are:

  • R1: $59.49 (0.85% above)
  • R2: $59.91 (1.56% above)
  • R3: $60.18 (2.02% above)
  • The current supports are:

  • S1: $58.86 (-0.22% below)
  • S2: $58.66 (-0.56% below)
  • S3: $58.55 (-0.75% below)
  • Bollinger bands

    This is an indicator that was designed in the 1980s by John Bollinger. It consists of 3 bands that are outlined superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    Since the price broke down the lower band on September 10, the price bounced by 1.39%

    Relative strength index

    The RSI (Relative Strength Index) is an oscillator-type indicator that gauges price fluctuations to spot when the price of a share or financial asset is oversold or overbought. Like other oscillation indicators, the RSI moves in a range between 0 and 100. The relative strength indicator is one of the best known and most widely used indicators, and it was invented by J. Welles Wilder in the late 1970s

    The RSI dropped below the overbought level of 70 in mid-August after just crossing to the overbough zone for just one day (weak signal). The RSI value today was 43.53. Bristol-Myers Squibb shares dropped a 7.31% since that level was lost

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    Earnings and financials

    In early August, BMY hosted the quarterly investors call and presented the Q2 report. BMY reported second-quarter earnings of $1.63 per share on revenue of $10.1 billion. The market estimate was $1.48 per share on revenue of $9.9 billion.

    Same quarter last year, reported EPS was $1.18, so current EPS means a gain of 38.14%. Looking at sales, figures exploded a 61.47% compared to $6.3B same quarter a year ago. Bristol-Myers Squibb reported 3 year over year quarterly positive results, improving sales by 92.93% from $5.3B on 2017-Q3.

    BMY is hosting the Q3 earnings call on late next October. Market expects a per-share earnings of %s of $1.49, compared to previous quarter that was $1.63. Earnings reporting day has a more than usual risk for traders as the information posted can jump up or down the shares price with very low liquidity and not respecting your buy/stop-loss orders. Check company's website to confirm time and details about the earnings call and the earnings report.

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