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Watch for Bank of New York Mellon to Potentially Rebound After Falling 1.09% Yesterday

By David Diaz

Bank of New York Mellon (NYSE:BK) traded in a range yesterday that spanned from a low of $45.88 to a high of $47.50. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $46.29 on volume of 4.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Bank of New York Mellon have traded between a low of $32.20 and a high of $1950.00 and are now at $46.35, which is 44% 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%.

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

Keywords: rebounders Bank of New York Mellon

Ticker(s): BK