The Bank Of New York Mellon Corporation Stock Forecast

Stronger technical forecast for The Bank Of New York Mellon Corporation stock price after Friday trading.
(Updated on Jun 28, 2024)

0HLQ.L Signals & Forecast

The The Bank Of New York Mellon Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 58.97€ and 58.75€. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -1.40%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for The Bank Of New York Mellon Corporation stock

The Bank Of New York Mellon Corporation finds support from accumulated volume at 58.81€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.359€ between high and low, or 0.603%. For the last week the stock has had daily average volatility of 0.777%.

Our recommended stop-loss: 56.84€ (-4.99%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 51 days ago.)

Trading Expectations (0HLQ.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect The Bank Of New York Mellon Corporation to open at 59.75€, and during the day (based on 14 day Average True Range), to move between 59.08€ and 60.58€, which gives a possible trading interval of +/-0.751€ (+/-1.26%) up or down from last closing price. If The Bank Of New York Mellon Corporation takes out the full calculated possible swing range there will be an estimated 2.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 60.68€ (1.42%) than the support at 58.81€ (1.70%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is The Bank Of New York Mellon Corporation stock A Buy?

The Bank Of New York Mellon Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for The Bank Of New York Mellon Corporation of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.