Bristol-Myers Squibb Company(BMY) is in an downtrend

(29-Jan-2008) (29-Jan-2008) Bristol-Myers Squibb Company(BMY) closed at 23.61, up 0.02 or 0.08 % for the day. Based on our analysis, Bristol-Myers Squibb Company(BMY) is in an downtrend.

The closing price of Bristol-Myers Squibb Company(BMY) is below its 50 day moving average of 26.92 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Bristol-Myers Squibb Company(BMY) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 16-Jan-2008, about 10 trading days ago.