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Look for Shares of Bank Ny Mellon to Potentially Rebound after Yesterday's 2.07% Sell Off

By David Diaz

Bank Ny Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $51.24 to a high of $52.01. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $52.03 on volume of 1.8 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 $54.59 and a 52-week low of $35.72 and are now trading 44% above that low price at $51.44 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.0%.

SmarTrend is tracking the current trend status for Bank Ny Mellon and will alert subscribers who have BK in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders bank ny mellon

Ticker(s): BK