The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Wedge
Number of records: 3
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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.
Falling Wedge Pattern,Falling Wedge,Falling Wedge Chart Pattern,Charting technique, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading

Bank of New York Mellon Corp. (BK)

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Summary:
Weekly :
Daily :A Parabolic SAR indicator is above and near the priceThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Bank of New York Mellon Corp. (BK). During the week, the BK dropped -1.35 points, or -2.86%, and closed at 45.90 on Friday, February 14, 2020. Weekly volume was -61% 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 40.52 on August 28, 2019. BK lost 18.47 points, or 31.31%, in 84 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 37.21 and resistance is at 50.62. 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 August 28, 2019 at 40.52 and reached 51.60 on January 9, 2020. BK gained -11.08 points, or -27.34%, in 19 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 44.50 and resistance is at 52.95. 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 below its signal line since January 24, 2020. Use the following link to access a MACD help.

Short-term trend: [See BK short-term trend chart]
A short-term uptrend had started on January 30, 2020 at 44.10 and reached 47.63 on February 6, 2020. BK gained -3.53 points, or -8.00%, in 7 days. The price is now at the 49.01% retracement level.

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

The daily MACD line is above its signal line since February 5, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (45.62) comes close to the price (45.90). It indicates that the trend is getting weaker. 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.

During the last week, the price has declined below 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.22
Williams' Percentage Range (W%R) 43.30
Lane's Stochastic (%D-Slow) 50.54
Greed/Fear Indicator (GFI) 54.47
Moving Average Converg./Diverg. (MACD) -0.78
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.21
Williams' Percentage Range (W%R) 55.30
Lane's Stochastic (%D-Slow) 28.97
Greed/Fear Indicator (GFI) 39.54
Moving Average Converg./Diverg. (MACD) 0.58
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 52.95
Yearly Trendline Resistance 50.62
50 Day Moving Average 48.64
Upper Bollinger Band 48.48
Daily Stochastic Crossing 46.59
20 Day Moving Average 46.08
Price 45.90
Weekly Stochastic Crossing 45.62
Parabolic System 45.62
Lower Bollinger Band 45.07
Quarterly Trendline Support 44.50
Yearly Trendline Support 37.21
Sector and Industry
Description Name Rank
Sector Financial 4
Industry Money Center Banks 44
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 47.63
High Date 02/06/2020
Low 45.69
Low Date 02/14/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 44.10
Low Date 01/30/2020
High 47.63
High Date 02/06/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 51.60
High Date 01/09/2020
Low 44.10
Low Date 01/30/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 52.95
Support 44.50
Low 40.52
Low Date 08/28/2019
High 51.60
High Date 01/09/2020
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 50.62
Support 37.21
High 58.99
High Date 01/16/2018
Low 40.52
Low Date 08/28/2019
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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