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After Yesterday's Decline of 8.09%, Bank Ny Mellon Offers Investors Better Value

By David Diaz

Bank Ny Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $46.62 to a high of $47.45. Yesterday, the shares fell 8.1%, which took the trading range below the 3-day low of $50.37 on volume of 6.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Bank Ny Mellon on October 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.14. Since that recommendation, shares of Bank Ny Mellon have risen 12.3%. We continue to monitor BK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Bank Ny Mellon share prices have moved between a 52-week high of $54.27 and a 52-week low of $40.52 and are now trading 16% above that low price at $47.01 per share. The 200-day and 50-day moving averages have moved 0% lower and 0.49% higher over the past week, respectively.

Keywords: rebounders bank ny mellon

Ticker(s): BK