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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 :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are oversold
Daily :Stochastic signal line moved below overbought areaThe price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the Bank of New York Mellon Corp. (BK). During the week, the BK dropped -0.97 points, or -2.18%, and closed at 43.56 on Friday, July 12, 2019. Weekly volume was -23% below average.

BK is a member of Financial Sector. Financial is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See BK long-term trend chart]
A long-term downtrend had started on January 16, 2018 at 58.99 and reached 42.13 on June 20, 2019. BK lost 16.86 points, or 28.58%, in 74 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 39.49 and resistance is at 53.12. 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 downtrend had started on March 19, 2019 at 54.27 and reached 42.13 on June 20, 2019. BK lost 12.14 points, or 22.37%, in 13 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 40.26 and resistance is at 51.63. 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 medium-term trend.

Weekly Technical Indicators: [See BK weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since April 18, 2019. This is an indication that the medium-term trend is down. 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 July 5, 2019 at 45.12 and reached 42.46 on July 9, 2019. BK lost 2.66 points, or 5.90%, in 4 days. The price is now at the 41.35% retracement level.

Daily Technical Indicators: [See BK daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since June 6, 2019. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

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) 51.24
Williams' Percentage Range (W%R) 44.80
Lane's Stochastic (%D-Slow) 31.65
Greed/Fear Indicator (GFI) 46.03
Moving Average Converg./Diverg. (MACD) -0.44
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.80
Williams' Percentage Range (W%R) 86.40
Oversold
Lane's Stochastic (%D-Slow) 17.65
Oversold
Greed/Fear Indicator (GFI) 21.65
Moving Average Converg./Diverg. (MACD) -1.43
Trading Signals
Description Value Chart
Monthly Trendline Resistance 51.63
Upper Bollinger Band 45.02
50 Day Moving Average 44.95
Parabolic System 44.76
20 Day Moving Average 43.63
Price 43.56
Daily Stochastic Crossing 43.41
Weekly Stochastic Crossing 42.97
Lower Bollinger Band 42.69
Monthly Trendline Support 40.26
Quarterly Trendline Support 39.49
Sector and Industry
Description Name Rank
Sector Financial 8
Industry Money Center Banks 78
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 45.12
High Date 07/05/2019
Low 42.46
Low Date 07/09/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 42.13
Low Date 06/20/2019
High 45.12
High Date 07/05/2019
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 51.63
Support 40.26
High 54.27
High Date 03/19/2019
Low 42.13
Low Date 06/20/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 53.12
Support 39.49
High 58.99
High Date 01/16/2018
Low 42.13
Low Date 06/20/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15.44
Low Date 01/20/2009
High 58.99
High Date 01/16/2018
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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