BMY stock: buy or sell
Jan 18th, 2021
BMY stock brief
- Bristol-Myers Squibb closed last Friday at $66.54 after merely moving a 0.79%.
- The price is currently higher than the upper Bollinger band, which is usually an indicator of a near-term correction
- Last Thursday broke out above its latest top at $65.71
- The stock is configuring an uptrend pattern since September 2020, when it bottomed at $56.03. Up to date, shares marked a 18.76% gain since the beginning of this rally. Last Thursday Bristol-Myers Squibb broke out above $65.71 giving an entry point
- 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?
Following Stock2 trading strategies, there are 2 buy setups eligible for Bristol-Myers Squibb:
Uptrend buy setup
Bristol-Myers Squibb stock is in an uptrend since in September 2020 that so far marked an amazing 19.00% gain. Price marked a local bottom in this uptrend at $59.45 in mid-December, and since then it bounced up a 11.93%. Price just broke out above the entry point at $65.71, but it's still eligible. If price goes above $69.00, you should not chase the price and wait for the next pullback. If you decide to enter this trade, the suggested stop loss is at $59.14
|Buy setup||Buy point||Stop loss||Risk|
|Uptrend buy setup||$65.71||$59.14||10.00%|
ATH buy setup
One of the most recommended trading strategies is to buy on All-time Highs (ATH) breakouts. The good point of buying at all-time highs is that price doesn't struggle with upper resistances, and usually it rises rapidly. However, there's the risk of a 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 1.53% 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 $67.56. The stop loss would be placed at $60.80
|Buy setup||Buy point||Stop loss||Risk|
|ATH buy setup||$67.56||$60.80||10.00%|
Should I sell Bristol-Myers Squibb stock?
"To sell or not to sell", if you are holding Bristol-Myers Squibb shares?. Similarly to when we have to buy shares, deciding when is the best time to sell is not a whimsical decision, and we must follow our own trading style. When selling, as well as buying, our setups are very easy to follow but are only valid for selling stocks in your porfolio, not for shorting $BMY stock
A golden rule is that you should never keep a trading operation that shows a losses greater than those expected upon the buy. The timing to sell your stock should always be ruled by the stop-loss (automatic or manual)
Is it time to sell Bristol-Myers Squibb stock?
In the current situation of Bristol-Myers Squibb there is not any eligible sell setup, so Bristol-Myers Squibb stock holders with operations in green can keep their positions
Bristol-Myers Squibb ratings
We don't have any rating posted in the last month for Bristol-Myers Squibb
Bristol-Myers Squibb stock analysis
Bristol-Myers Squibb shares started an uptrend in September 2020, and grew an amazing 18.76%. The price line shows higher highs and higher lows, and along the way provided some entry points for those who wanted to trade in. Latest pullback was in mid-December, when price bounced at $59.45. Last Thursday, Bristol-Myers Squibb broke out above its last top ($65.71) offering a good buying opportunity
Supports and resistances
The current resistances are:
The current support levels are:
When the price moves out of the band (above the upper line or below the lower line) it indicates that the price is currently having a very strong momentum and therefore can correct the trend to the average. In this case, the price is beyond the upper band, and that should mean a possible near-term adjustment (at least) until it is under the band
Relative strength index
Crossed over the overbought line last Friday, marking a reading of 71.8. Crossing up above the overvalued zone is not a sell signal, as stocks can rally during several weeks being in the overbought zone
Bristol-Myers Squibb stock price history
Bristol-Myers Squibb went public 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. An investment of thousand dollars on the IPO would worth $inf nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Bristol-Myers Squibb stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are posted every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, brokerage institutions release their price target based on the stock price action and the company fundamental data. Most of these forecasts follow the publication of new financial information by the company, and usually. Again, these predictions are not direct recommendations for individual investors and must not be trusted blindly.
In the previous month we couldn't find any price target posted for Bristol-Myers Squibb stock.
Earnings and financials
Last November, Bristol-Myers Squibb ($BMY) had the quarterly investors call and released the report. BMY presented earnings of $1.63 per share on sales of $10.5 billion. The analysts estimate was $1.49 per share on revenue of $10.3 billion.Compared to the same quarter last year, EPS was $1.17, so current EPS means a gain of 39.32%. Looking at revenue, figures skyrocketed a 75.46% compared to $60.1B same quarter 12 months ago.
BMY ($BMY) will host the quarterly earnings call early next February. Wall Street estimates of $1.41, compared to Q3 that was $1.63.
Bristol-Myers Squibb performance
|Bristol-Myers Squibb ($BMY)||7.30%||10.50%||12.10%|
Important:The opinions given in this article 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 positions 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 published for education reasons only
|Friday, January 15th, 2021|
|Day range||$65.54 - $66.86|
|Average true range||$1.64|
|50d mov avg||$62.17|
|100d mov avg||$60.72|
|200d mov avg||$59.78|
|Earnings date||February 4th, 2021|