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Bank Ny Mellon Set to Possibly Rebound After Yesterday's Selloff of 8.09%

By Shiri Gupta

Bank Ny Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $46.62 to a high of $47.45. Yesterday, the shares fell 8.1%, which took the trading range below the 3-day low of $50.37 on volume of 6.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Bank Ny Mellon on October 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.14. Since that recommendation, shares of Bank Ny Mellon have risen 12.3%. We continue to monitor BK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Bank Ny Mellon share prices have been bracketed by a low of $40.52 and a high of $54.27 and are now at $47.01, 16% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

Keywords: rebounders bank ny mellon

Ticker(s): BK