Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

Bristol Myers Squibb’s Rising SCTR Score: Seize the Moment to Invest?

by February 28, 2025
February 28, 2025
Bristol Myers Squibb’s Rising SCTR Score: Seize the Moment to Invest?

Bristol Myers Squibb (BMY) reported strong Q4 earnings earlier in February, and prospects remain strong for 2025, although it may face some headwinds. The recent earnings announcement for the company led to a pullback in the stock price; however, BMY is now showing signs of recovery and gaining some momentum.

The stock caught my interest when I ran my StockCharts Technical Rank (SCTR) scan on Thursday evening. An attractive price point and the recent strength of the Health Care sector enticed me to do a deeper dive into the stock’s charts.

The Health Care sector was in a steady downfall from September to December 2024. Bristol Myers Squibb (BMY) deviated from the downfall and trended higher during this time. The daily chart of BMY below shows the stock’s performance relative to the Health Care Select Sector SPDR Fund (XLV). Since September 30, 2024, BMY’s performance has outperformed XLV’s. Even during the February pullback, the stock was performing better than the Health Care sector.

FIGURE 1. DAILY CHART OF BRISTOL MYERS SQUIBB. The SCTR score has crossed 76, the MACD is crossing over into positive territory, and BMY is outperforming XLV.Chart source: StockCharts.com. For educational purposes.

The SCTR score in the upper panel didn’t display strength until November and, even though it crossed above 76, it didn’t go higher than 92. In late January, the SCTR score fell below the 76 level.

The following points are worth noting:

The stock price bounced off its 21-day exponential moving average (EMA) and 50-day SMA on Thursday.The SCTR score has crossed above the 76 level.Bristol Myers Squibb’s relative performance against XLV is at 21.31% and trending higher.The moving average convergence/divergence (MACD) has crossed above its signal line and is very close to the zero line.

If BMY’s stock price continues to rise higher there could be an opportunity to add some positions of this stock. How high could the stock price go? The probability of BMY hitting its 52-week high is high, but, for a favorable risk-to-reward ratio, there needs to be strong upside momentum. The weekly chart below shows the stock has the potential to rise to around the $72 level.

FIGURE 2. WEEKLY CHART OF BRISTOL MYERS SQUIBB. A break above the upper Bollinger Band, rising RSI, and crossover of the stochastic oscillator point to further upside move in the stock price.Chart source: StockCharts.com. For educational purposes.

A break above the upper Bollinger Band® would be positive for the stock.The relative strength index (RSI) is just shy of 60. A cross above 70 would confirm upside momentum.Look for the %K line to cross over the %D line in the full stochastic oscillator (lower panel).

The bottom line: I’ll be monitoring Bristol Myers Squibb’s stock price closely. I’ve set an alert to notify me when the stock price crosses above $61. If the indicators in the daily chart still indicate buying pressure is strong and the trend is bullish, I’ll consider adding BMY to my portfolio.

The SCTR Scan

[country is US] and [sma(20,volume) > 100000] and [[SCTR.us.etf x 76] or [SCTR.large x 76] or [SCTR.us.etf x 78] or [SCTR.large x 78] or [SCTR.us.etf x 80] or [SCTR.large x 80]]

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

0
FacebookTwitterGoogle +Pinterest
previous post
Why Businesses Must Embrace Comprehensive Digital Marketing Strategies
next post
Retail is at a Crossroads—Buy Now or Stay Away?

You may also like

What’s Your Vision for 2023?

December 31, 2022

Timing the Market With the WillTrend Indicator

September 20, 2023

Lift Off! Aerospace and Defense Stocks Showing Multi-Year...

December 7, 2023

Defense Stocks To Buy: A Strategy You Need...

April 19, 2023

DP Trading Room: Trusting the Technicals

February 7, 2023

Nuclear Power Trio: OKLO, SMR, and CCJ in...

May 29, 2025

Stocks Soar, Energy Prices Spike: Are Geopolitical Tensions...

October 5, 2024

GNG TV: US Equity “Go” Trend Wobbles

December 15, 2022

Using Outsized Moves to Identify Trend Reversals –...

April 12, 2024

Why the MACD Crossover Signal is SO Important

October 16, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How Staff Can Strengthen HIPAA Compliance and Security

      June 29, 2025
    • Lotus denies plans to close Hethel factory amid US expansion talks

      June 29, 2025
    • Top university degrees lose sway as tech employers prioritise job-ready skills

      June 29, 2025
    • Government urges supermarkets to make healthy food more appealing in bid to tackle obesity crisis

      June 29, 2025
    • Senate Republicans ram Trump’s ‘big, beautiful bill’ through key test vote

      June 29, 2025
    • Chief Justice Roberts sounds alarm on dangerous rhetoric aimed at judges from politicians

      June 29, 2025

    Categories

    • Business (8,334)
    • Investing (2,081)
    • Politics (15,853)
    • Stocks (3,177)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved