BANK OF NEW YORK MELLON CORP (BK) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:BK - US0640581007 - Common Stock
Taking everything into account, BK scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, BK has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, BK also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 119.00, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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5 important support areas can be observed.
- A support zone ranging from 117.62 to 119.00. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 113.50 to 114.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 106.43 to 106.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @103.69 from a horizontal line in the daily time frame.
- Support @88.24 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 120.67 to 121.31. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for BK is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BK is up. |
| ChartMill Relative Strength | 87.5 | POSITIVE | BK has a high relative strength, it outperformed 87.5% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BK is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BK is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BK is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.07 | NEUTRAL | The RSI value for BK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests BK has a positive trend. |
| Stochastics (14,3) | 68.63 | NEUTRAL | The Stochastics value for BK is a neutral value. |
| Average True Range in percent/ATR (20) | 1.57 | LOW VOLATILITY | The low ATR as a percentage value for BK suggests low volalility. |
| Average Directional Index/ADX (14) | 29.36 | POSITIVE | The high ADX value value for BK suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 121.32 | 117.61 | 3.71 (3.06%) | 25.00% |
| An entry @121.32. This is a Buy Stop order right above the resistance zone. | An exit @117.61. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 3.71 points, which is 3.06%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.76%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
120.66
+1.62 (+1.36%)
BANK OF NEW YORK MELLON CORP / BK FAQ
Can you provide the ChartMill technical rating for BANK OF NEW YORK MELLON CORP?
ChartMill assigns a technical rating of 10 / 10 to BK.
What is the trend direction for BK stock?
The current trend direction for BANK OF NEW YORK MELLON CORP (BK) is Bullish.
What is the RSI signal for BANK OF NEW YORK MELLON CORP (BK) stock?
BANK OF NEW YORK MELLON CORP (BK) has an RSI value of 64.0734. This indicates that the stock is currently neutral.
Can you provide the short term momentum for BANK OF NEW YORK MELLON CORP?
The short term momentum for BANK OF NEW YORK MELLON CORP (BK) is positive.
What are the support and resistance levels for BANK OF NEW YORK MELLON CORP (BK) stock?
BANK OF NEW YORK MELLON CORP (BK) has a support level at 119 and a resistance level at 120.67. Check the full technical report for our detailed analysis of BK support and resistance levels.