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Bank Ny Mellon Falls 1.21% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Bank Ny Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $56.61 to a high of $57.40. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $57.05 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Bank Ny Mellon share prices have moved between a 52-week high of $58.99 and a 52-week low of $48.97 and are now trading 16% above that low price at $56.75 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

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.

Keywords: rebounders bank ny mellon

Ticker(s): BK