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After Yesterday's Decline of 1.21%, Bank Ny Mellon Offers Investors Better Value

By James Quinn

Bank Ny Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $56.61 to a high of $57.40. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $57.05 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Bank Ny Mellon. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Bank Ny Mellon in search of a potential trend change.

In the past 52 weeks, Bank Ny Mellon share prices have been bracketed by a low of $48.97 and a high of $58.99 and are now at $56.75, 16% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

Keywords: rebounders bank ny mellon

Ticker(s): BK