Press "Enter" to skip to content

Death Cross Looms Over Bristol-Myers Squibb Investors

If history is any guide, there may be trouble ahead for shares of Bristol-Myers Squibb(NYSE:BMY). A so-called “death cross” has formed on its chart and, not surprisingly, this could be bearish for the stock.

What To Know: Many traders use moving average crossover systems to make their decisions.

When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.

Why It’s Important: The 50-day and the 200-day simple moving averages are commonly used.

The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.

That just happened with Bristol-Myers Squibb, which is trading around $57.125 at publication time.

signals

Remember: Seasoned investors don’t blindly trade Death Crosses.

Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.

For seasoned investors, this is just a sign that it might be time to start considering possible short positions.

With that in mind, take a look at Bristol-Myers Squibb’s past and upcoming earnings expectations:

Quarter Q2 2021 Q1 2021 Q4 2020 Q3 2020
EPS Estimate 1.91 1.82 1.41 1.49
EPS Actual 1.93 1.74 1.46 1.63
Revenue Estimate 11.33B 11.11B 10.73B 10.33B
Revenue Actual 11.70B 11.07B 11.07B 10.54B

Also consider this overview of Bristol-Myers Squibb analyst ratings:

ratings

Do you use the Death Cross signal in your trading or investing? Share this article with a friend if you found it helpful!

This post was originally published on this site

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *