Pharmaceutical giant Bristol-Myers Squibb (BMY) has been struggling for weeks and recently broke a key support zone. Let's check on the condition of the charts and indicators to see what the side effects are.
In this daily bar chart of BMY, below, I can see that prices made a high in early December and turned lower. Prices held the prior low around $66 in late August and again in March but that support zone gave way last week and prices sank lower.
BMY trades below the declining 50-day moving average line and below the declining 200-day line. The On-Balance-Volume (OBV) line has been weak since late June. The Moving Average Convergence Divergence (MACD) oscillator moved below the zero line in early May for an outright sell signal.