BMY stock: buy or sell
Jul 29th, 2021
BMY stock brief
- Bristol-Myers Squibb grew a 1.84% after making all-time highs on Wednesday
- The price is currently higher than the upper Bollinger band, which usually indicates a short-term correction
- On July 22 broke out above its latest top at $67.46
- Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide.
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 just one buy setup eligible:
Uptrend buy setup
Bristol-Myers Squibb stock continues to trend higher since last March and marked an amazing 19.01% gain. Price marked a local bottom in this uptrend at $62.76 in early June, and since then it bounced up a 9.51%. Price just broke out above the entry point at $67.46, but it can be traded. If price climbs above $70.83, don't chase the price and wait for another pullback. If you decide to enter this trade, the suggested stop loss is at $60.88
|Buy setup||Buy point||Stop loss||Risk|
|Uptrend buy setup||$67.46||$60.88||9.76%|
Should I sell Bristol-Myers Squibb stock?
When you are a novel trader and you own stock shares with some profit, it's really hard to decide the good moment to sell and get your profits. Trading strategies help us to avoid impulsive decisions based on our moods or the buzz surrounding the market. When selling, as well as buying, detailed setups are very easy to use but are only valid for selling stocks you already own, not for shorting Bristol-Myers Squibb stock
As a rule of thumb, you should never hold a trading operation that leads to greater losses than those expected at the time of the buy. When to sell your stock must always be determined 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
Bristol-Myers Squibb ratings
In the last month we couldn't find any rating for Bristol-Myers Squibb
Bristol-Myers Squibb stock analysis
Bristol-Myers Squibb stock started an uptrend last March, and gained an amazing 19.01%. The price shows higher highs and higher lows, and along the way provided some buy points for those who wanted to trade in. Latest low was in early June, when price bounced at $62.76. Bristol-Myers Squibb broke out above $67.46 (its last top) on July 22. That breakout was a good buy point
$BMY at All-time Highs
On Wednesday, Bristol-Myers Squibb hit new all-time highs (ATH) again at $68.99
Supports and resistances
Price is at all-time highs and there are not upper resistances.
The current support levels are:
The actual distance between the upper and lower bands is 3.16%, and this means that price volatility is at very low levels. Reduced volatility is often the antecedent to a sudden movement (up or down), so we must be alert and manage our buy or sell orders properly
Relative strength index
The has been between the levels of 70 and 30 for many weeks, and therefore, without this indicator really helping us to make any decisions.
Bristol-Myers Squibb stock price history
Bristol-Myers Squibb went public on Jun 1st, 1972 priced at $0.00 per share1. Since then, BMY stock has risen by -, with an average of 0.00% per year. An investment of thousand dollars on Jun 1972 would worth $inf today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Bristol-Myers Squibb stock
How much a stock will be priced tomorrow or next week is quite unpredictable. Banks and financial organisations issue their analysis forecasting how a particular stock will performance in the future.
The following table shows the price forecasts posted by analysts in the last month. Again, these forecasts are not direct recommendations for individual traders and must not be followed blindly.
We don't have any target price posted in the last 30 days for Bristol-Myers Squibb.
Earnings and financials
Last April, Bristol-Myers Squibb Company ($BMY) posted EPS for that slightly lowered Wall St. expectations. Quarterly EPS was $1.74 per share compared to the forecasted $1.82. This Q1 report represents an earnings surprise of -4.40%. On the contrary, the company reported turnover for Q1 was $11.1 billion aligned with the market estimates.Same quarter one year ago, reported EPS was $1.72, so recently posted EPS means an improvement of 1.16%. Sales slightly changed on an annualized basis in the , from $107.8B to $110.7B last quarter.
BMY ($BMY) is releasing earnings report on Thursday next week. Market estimates of $1.91, compared to previous quarter that was $1.74. Regarding to revenues, the estimates are $11.3 billion.
Bristol-Myers Squibb performance
|Bristol-Myers Squibb ($BMY)||4.30%||6.50%||11.10%|
Important:The opinions contained in this post are personal and should not be followed as recommendations for you to buy or sell shares. The author of this paper does not have any knowledge of the particular circumstances of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are provided for educative purposes only
|Wednesday, July 28th, 2021|
|Day range||$67.01 - $68.99|
|Average true range||$1.07|
|50d mov avg||$66.23|
|100d mov avg||$64.56|
|200d mov avg||$62.63|
|Earnings date||August 5th, 2021|