BMY stock: buy or sell

BMY stock price: $66.32 0.36% At close on Apr 21st, 2021

Updated on:
Apr 22nd, 2021

1

BMY stock brief

  • Counting on Wednesday, it's been 9 consecutive sessions in green for Bristol-Myers Squibb. Price closed on Wednesday at $66.32 after just changing a 0.36%.
  • The price is currently over the upper Bollinger band, which often indicates a short-term correction
  • Truist Securities published a strong buy rating for Bristol-Myers Squibb last Monday, targeting $74.00
  • Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide.

Should I buy Bristol-Myers Squibb stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. 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:

ATH buy setup

All-time Highs is always an excellent buy point for those who like to buy high and sell higher. The good point of buying at ATHs is that shares price doesn't struggle with upper resistances, and usually it scales fast. However, you must always be aware of a possible bulls trap that may trigger your buy order and then falls sharply. That's why a stop loss is so important. Price is now at 1.07% of all-time highs and it can breakout at any time, so if you want to trade this setup it's recommended to setup your order at $67.03. Arm your stop-loss at $60.33

Buy setupBuy pointStop lossRisk
ATH buy setup$67.03$60.3310.00%

Should I sell Bristol-Myers Squibb stock?

"To sell or not to sell", if you are holding Bristol-Myers Squibb stock?. Trading strategies prevent us from making impulsive decisions based on our personal sentiments or the noise surrounding the market. Our trading system selects very simple setups to guide us on when is the best time to sell our shares. Be aware that these setups are not intended for shorting Bristol-Myers Squibb stock

As a rule of thumb, you must never keep an operation that leads to higher than expected losses by the time of purchase. The moment to sell your stock always has to be dictated 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 own Bristol-Myers Squibb stock and your operation is in profit probably is not time to sell now

Bristol-Myers Squibb ratings

In the last 30 days, 4 brokerage ratings were published for Bristol-Myers Squibb. General sentiment is bullish, with 4 out of 4 posting positive outlooks

Bristol-Myers Squibb analysts' ratings - Last month
Brokerage firmRating
Apr 13th, 2021
Truist NeutralStrong buy
Truist Financial NeutralStrong buy
Truist Securities NeutralStrong buy
Apr 19th, 2021
Truist Securities NeutralStrong buy

Bristol-Myers Squibb stock analysis

On April 12, the price broke out above the previous top at $62.68 on the downtrend started last January. Since then, the price action resulted in a 5.81% profit.

SMAs overview

BMY stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $66.64 (0.48% above)
  • R2: $67.03 (1.07% above)
  • The current supports are:

  • S1: $65.72 (-0.90% below)
  • S2: $65.20 (-1.69% below)
  • S3: $64.95 (-2.07% below)
  • Bollinger bands

    When the price moves out of the band (above the upper line or below the lower line) it shows that the price action is currently having a very strong momentum and therefore can reverse the trend to the average. At this point, the price is over the upper band, meaning a short-term adjustment (at least) until it is under the band

    BMY stock Bollinger Bands chart

    Relative strength index

    Broke through the overbought line Wednesday, with a reading of 74.12. Climbing above the overbought zone is not a sell signal, as shares can rise during several weeks being above the level of 70

    BMY stock RSI chart

    Bristol-Myers Squibb stock price history

    Bristol-Myers Squibb started trading priced at an adjusted price1 of $0.00 on Jun 1972. Since then, BMY stock has risen by -, with an average of 0.00% per year. If you had invested $1,000USD in Bristol-Myers Squibb stock at that time, it would worth $inf today.

    1: Adjusted price after possible price splits or reverse-splits

    BMY stock price history chart

    Price target for Bristol-Myers Squibb stock

    Nobody can predict how much a share will be priced tomorrow. However, many stock price predictions are posted every day by banks, financial institutions and independent analysts.

    The following table shows the price target published by analysts in the last month. Again, these targets are not direct recommendations for individual traders and should not be followed blindly.

    The average price target for Bristol-Myers Squibb stock calculated from the table below is $74.00. That is a 11.58% than the current price ($66.32).

    Bristol-Myers Squibb stock price predictions
    Brokerage firmPrice target
    Apr 13th, 2021
    Truist Not available
    Truist Financial Not available
    Truist Securities $66.00$74.00
    Apr 19th, 2021
    Truist Securities $66.00$74.00

    Earnings and financials

    Last February, Bristol-Myers Squibb ($BMY) hosted the financial event and released the report. BMY reported earnings of $1.46 per share on sales of $11.1 billion. The analysts estimate was $1.41 per share on revenue of $10.7 billion.

    Same quarter last year, reported EPS was $1.22, so recently reported EPS means an improvement of 19.67%. Sales exploded a 39.31% on an annualized basis in the , from $79.5B to $110.7B last quarter.

    BMY ($BMY) is hosting the earnings call next Thursday. Wall Street expects of $1.81, compared to previous quarter that made $1.46.

    Bristol-Myers Squibb performance

    BMY performance compared
    Company1m3m6m
    Bristol-Myers Squibb ($BMY) 5.50% 1.80% 10.30%

    Important:
    The opinions expressed in this article are personal and not recommendations for you to buy or sell stocks. The author of this document does not have an understanding of the individual circumstances of the reader, his or her own 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 Opinions are published for educative motives only

    BMY summary

    Wednesday, April 21st, 2021
    Open$66.52
    Close$66.32
    Day range$66.08 - $66.89
    Previous close$66.08
    Session gain0.36%
    Average true range$1.13
    50d mov avg$61.66
    100d mov avg$61.75
    200d mov avg$60.58
    Earnings dateMay 6th, 2021

    Frequently asked questions

    What is Bristol-Myers Squibb stock symbol?

    Bristol-Myers Squibb Company is a public company trading in the US stock market with the BMY symbol

    Is Bristol-Myers Squibb stock a buy or sell?

    Bristol-Myers Squibb received 4 ratings in the last 30 days: 4 bullish, 0 bearish and 0 neutral.

    Will BMY go up?

    Bristol-Myers Squibb had different price predictions published by analysts in the last 4 weeks forecasting the target price to $74.00. That is a 11.58% than the current price ($66.32).