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After Yesterday's Rally of 1.22% Shares Could Potentially Pullback

By Nick Russo

Bank Ny Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $51.64 to a high of $52.59. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $51.98 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Bank Ny Mellon have traded between a low of $49.39 and a high of $58.99 and are now at $52.52, which is 6% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Bank Ny Mellon on June 28th, 2018 by issuing a Downtrend alert when the shares were trading at $54.14. Since that call, shares of Bank Ny Mellon have fallen 4.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders bank ny mellon

Ticker(s): BK