NOV15 2025PST. Shares of Bristol-Myers Squibb (BMY) have today declined to an appealing buy-point: the support of a precisely-fitting, 3-year price channel. The channel, drawn on the chart below with a dashed red line, is defined by four price extremes, which are highlighted in solid yellow.
 |
| BMY. November 2008 to present. Daily candles. |
The lower portion of the screenshot shows an oscillator that is defined as the difference between price and its 100-day simple moving average. (The latter is drawn on the chart as a dashed blue line.) As such, the oscillator can be interpreted as an indicator of market sentiment. The current value of the oscillator, -2.45 (i.e. price is $2.45 below the 100-day SMA), is the lowest value since March 2009, suggesting that the stock is oversold.
