BANK OF NEW YORK MELLON CORP (BK) Stock Technical Analysis
USA - NYSE:BK - US0640581007 - Common Stock
Taking everything into account, BK scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, BK is showing a nice and steady performance.
BK has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 109.53. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 107.22, a Stop Loss order could be placed below this zone.
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83.03
3 important support areas can be observed.
- A support zone ranging from 103.69 to 107.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @88.90 from a horizontal line in the daily time frame.
- Support @83.87 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 109.53 to 109.75. 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 | 84.16 | POSITIVE | BK has a high relative strength, it outperformed 84.16% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of BK is above a declining 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) | 54.29 | NEUTRAL | The RSI value for BK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests BK has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 58.24 | NEUTRAL | The Stochastics value for BK is a neutral value. |
| Average True Range in percent/ATR (20) | 2.09 | MEDIUM VOLATILITY | The ATR as a percentage value for BK suggests some volalility. |
| Average Directional Index/ADX (14) | 12.07 | NEGATIVE | The low ADX value for BK suggests a weak or negative 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 |
|---|---|---|---|
| 109.76 | 103.68 | 6.08 (5.54%) | 18.05% |
| An entry @109.76. This is a Buy Stop order right above the resistance zone. | An exit @103.68. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 6.08 points, which is 5.54%. | For a 1.00% total portfolio risk, you can invest 18.05% of your capital in this trade. |
- 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.
107.99
+1.31 (+1.23%)
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 9 / 10 to BK.
Can you provide the trend direction for BANK OF NEW YORK MELLON CORP?
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 54.292. This indicates that the stock is currently neutral.
Can you provide the buy/sell signal for BANK OF NEW YORK MELLON CORP?
The buy/sell signal for BANK OF NEW YORK MELLON CORP (BK) is buy as both the short term and long term trends are 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 107.22 and a resistance level at 109.53. Check the full technical report for our detailed analysis of BK support and resistance levels.