The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Wedge
Number of records: 10
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Chart Analysis and Chart Pattern Recognition – Falling Wedge Pattern.
A falling wedge pattern is a triangle formation with noticeable slant to the downside. It represents the loss of the downside momentum on each successive low and has a bullish bias. The falling wedges pattern usually marks a reversal in a downtrend. In an uptrend, the falling wedge pattern is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Falling Wedge Screening page presents a list of stocks forming Falling Wedge Pattern.
Tips:
# 1
To confirm the loss of the downside momentum at the reversal point, see bullish divergence on technical indicators.
# 2 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
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Bank of New York Mellon Corp. (BK)

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Summary:
Weekly :
Daily :The price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageThe price is close to the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week for the Bank of New York Mellon Corp. (BK). During the week, the BK gained 1.62 points, or 4.46%, and closed at 37.94 on Thursday, July 2, 2020. Weekly volume was -36% below average.

Long-term trend: [See BK long-term trend chart]
A long-term downtrend had started on January 16, 2018 at 58.99 and reached 26.40 on March 18, 2020. BK lost 32.59 points, or 55.25%, in 113 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 34.80 and resistance is at 49.66. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See BK medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 26.40 and reached 43.17 on June 8, 2020. BK gained -16.77 points, or -63.52%, in 11 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 35.35 and resistance is at 46.36. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See BK weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since May 22, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See BK short-term trend chart]
A short-term downtrend had started on June 8, 2020 at 43.17 and reached 36.04 on June 26, 2020. BK lost 7.13 points, or 16.52%, in 18 days. The price is now at the 26.65% retracement level.

Daily Technical Indicators: [See BK daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since June 12, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.47
Williams' Percentage Range (W%R) 68.00
Lane's Stochastic (%D-Slow) 41.53
Greed/Fear Indicator (GFI) 40.32
Moving Average Converg./Diverg. (MACD) 0.31
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.98
Williams' Percentage Range (W%R) 42.70
Lane's Stochastic (%D-Slow) 68.41
Greed/Fear Indicator (GFI) 59.60
Moving Average Converg./Diverg. (MACD) -2.31
Trading Signals
Description Value Chart
Upper Bollinger Band 41.15
Weekly Stochastic Crossing 38.80
20 Day Moving Average 38.79
Price 37.94
Daily Stochastic Crossing 37.78
50 Day Moving Average 37.01
Parabolic System 36.17
Monthly Trendline Support 35.35
Lower Bollinger Band 34.88
Yearly Trendline Support 34.80
Sector and Industry
Description Name Rank
Sector Financials 4
Industry Asset Management & Custody Banks 71
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 36.04
Low Date 06/26/2020
High 38.89
High Date 07/02/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 43.17
High Date 06/08/2020
Low 36.04
Low Date 06/26/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 46.36
Support 35.35
Low 26.40
Low Date 03/18/2020
High 43.17
High Date 06/08/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 51.60
High Date 01/09/2020
Low 26.40
Low Date 03/18/2020
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 49.66
Support 34.80
High 58.99
High Date 01/16/2018
Low 26.40
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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