- Bristol-Myers Squibb Company (BMY) stock price trading below the 20, 50, and 200- days Exponential Moving Average.
- Bristol-Myers Squibb Company (BMY)’s stock price is currently trading at $62.79.
- Bristol-Myers Squibb Company (BMY)’s live market cap is $1.31 Trillion.
Bristol-Myers Squibb Company (BMY) stock price is at $62.79. The Bristol-Myers Squibb Company’s (BMY) stock price is currently in a downturn, according to the current market situation. The price has dropped by over 23% since hitting a high of $81.22 in December 2022. It is yet to find a support level and it is still continuing in the downward trend. The cost has decreased by 5% during the past two weeks.
The overall pattern of the price of BMY’s stock points to a downward trend, suggesting a chance of additional decrease up until the next resistance level at $55.
According to the fundamentals, Bristol-Myers Squibb Company has a substantial amount of debt, with a debt ratio of 118% and a total debt of $37.7 Billion. This is a significant contributing cause to the dearth of stock market purchasers.
Furthermore, according to statistics from Simply Wall Street, BMY’s net-to-debt equity ratio is 89%. This supports the claim that the company is heavily indebted. The company also distributes relatively minimal dividends in comparison to other corporations.
Bristol-Myers Squibb Company (BMY) Stock Price Analysis
A probable decrease in the stock price is indicated by the price of Bristol-Myers Squibb Company (BMY) currently trading below the Exponential Moving Average (EMA) level.
A weak pattern is there, which is further supported by the Moving Average Convergence Divergence (MACD) line’s placement below the signal line, which denotes a likely price decrease. This pessimistic viewpoint is supported by the MACD chart’s red histogram.
The Relative Strength Index (RSI) line of BMY is currently trading below the signal line, indicating weakness in the stock. This indicates that the stock price might fall in the future.
Conclusion
In conclusion, the stock price of Bristol-Myers Squibb Company (BMY) is showing a possible sign of bearishness. The price is moving below the EMA indicating a absence of positive momentum. A weak pattern and likely price decrease are indicated by the MACD line being below the signal line and by the presence of a red histogram. The stock’s weakness is further supported by the Relative Strength Index (RSI) line that is below the signal line. The decline in volume also implies a decline in consumer interest.
Technical Levels
- Support – Bristol-Myers Squibb Company’s (BMY) current support level is $55.
- Resistance – The Bristol-Myers Squibb Company’s (BMY) current resistance level is $69.
Disclaimer
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