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Bank Ny Mellon Falls 1.70% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Bank Ny Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $54.83 to a high of $56.26. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $55.73 on volume of 2.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

In the past 52 weeks, shares of Bank Ny Mellon have traded between a low of $35.72 and a high of $58.99 and are now at $55.19, which is 55% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.0%.

Keywords: rebounders bank ny mellon

Ticker(s): BK