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After Yesterday's Rally of 1.41% Shares Could Potentially Pullback

By Shiri Gupta

Bank Ny Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $53.16 to a high of $53.83. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $53.47 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Bank Ny Mellon share prices have moved between a 52-week high of $54.59 and a 52-week low of $35.72 and are now trading 51% above that low price at $53.78 per share. The 200-day and 50-day moving averages have moved 0.17% lower and 1.02% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Bank Ny Mellon on February 15th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.17. Since that recommendation, shares of Bank Ny Mellon have risen 12.4%. We continue to monitor BK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders bank ny mellon

Ticker(s): BK