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Bank Ny Mellon Set to Possibly Pullback After Yesterday's Rally of 1.27%

By David Diaz

Bank Ny Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $52.34 to a high of $52.83. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $52.54 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Bank Ny Mellon has traded in a range of $35.72 to $58.99 and is now at $52.65, 47% above that low. 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 its subscribers protect gains by selling shares of Bank Ny Mellon on March 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $54.79. Since that call, shares of Bank Ny Mellon have fallen 5.1%. 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