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After Yesterday's Decline of 1.70%, Bank Ny Mellon Offers Investors Better Value

By Shiri Gupta

Bank Ny Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $54.83 to a high of $56.26. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $55.73 on volume of 2.2 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.

Over the past year, Bank Ny Mellon has traded in a range of $35.72 to $58.99 and is now at $55.19, 55% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.2%.

Keywords: rebounders bank ny mellon

Ticker(s): BK