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Bank Ny Mellon (BK) Breaks Through Resistance at $52.71

By Amy Schwartz

Shares of Bank Ny Mellon (NYSE:BK) opened today above their pivot of $52.15 and have already reached the first level of resistance at $52.71. Investors may be interested in a cross of the next upside pivot targets of $53.05 and $53.95.

Bank Ny Mellon has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $52.18. The stock should run into initial resistance at its 50-day moving average (MA) of $37.95 and subsequent resistance at its 200-day MA of $39.68.

In the past 52 weeks, Bank Ny Mellon share prices have been bracketed by a current low of $0.00 and a high of $52.50 and are now at $0.00. 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%.

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 11.0%. We continue to monitor BK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts bank ny mellon

Ticker(s): BK