Bank of New York Mellon Corp. (BK)
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.