Bank of New York Mellon Corp. (BK)
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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.