Bank Of New York Mellon Corp (The) Stock Forecast
Bank Of New York Mellon Corp (The) stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The Bank Of New York Mellon Corp (The) stock price gained 1.45% on the last trading day (Thursday, 18th Apr 2024), rising from $54.46 to $55.25. During the last trading day the stock fluctuated 1.42% from a day low at $54.76 to a day high of $55.54. The price has been going up and down for this period, and there has been a -2.68% loss for the last 2 weeks. Volume fell on the last day by -913 thousand shares and in total, 3 million shares were bought and sold for approximately $178.86 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bank Of New York Mellon Corp (The) stock with a 90% probability to be traded between $55.07 and $58.96 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BK Signals & Forecast
There are mixed signals in the stock today. The Bank Of New York Mellon Corp (The) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $55.91. On a fall, the stock will find some support from the short-term average at $54.99. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.31%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Tuesday, March 19, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 19, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Bank Of New York Mellon Corp (The) stock
Bank Of New York Mellon Corp (The) finds support from accumulated volume at $55.12 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 $0.780 between high and low, or 1.42%. For the last week the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: $52.49 (-4.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (BK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Bank Of New York Mellon Corporation (The) to open at $55.18, and during the day (based on 14 day Average True Range), to move between $54.12 and $56.38, which gives a possible trading interval of +/-$1.13 (+/-2.04%) up or down from last closing price. If Bank Of New York Mellon Corporation (The) takes out the full calculated possible swing range there will be an estimated 4.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $55.28 (0.05%) than the support at $55.12 (0.24%), 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 Bank Of New York Mellon Corporation (The) stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Bank Of New York Mellon Corp (The) stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.051 Buy Candidate Upgraded
Predicted Opening Price for Bank Of New York Mellon Corporation (The) of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$55.18 ( 0.127%) | $55.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 55.96 | 1.29 % | |
R2 | 55.66 | 0.746 % | ||
R1 | 55.48 | 0.413 % | ||
Current price: | 55.25 | |||
Support | S1 | 54.88 | -0.666 % | |
S2 | 54.70 | -1.00 % | ||
S3 | 54.40 | -1.54 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 55.64 | 0.706 % | |
R2 | 55.49 | 0.434 % | ||
R1 | 55.28 | 0.0543 % | ||
Current price | 55.25 | |||
Support | S1 | 55.12 | -0.235% | |
S2 | 55.04 | -0.380% | ||
S3 | 54.00 | -2.26% |
BK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 12, 2024 | Jan 19, 2024 | Feb 02, 2024 | $0.420 | 0.755% |
2 | Oct 17, 2023 | Oct 26, 2023 | Nov 09, 2023 | $0.420 | 0.93% |
3 | Jul 18, 2023 | Jul 27, 2023 | Aug 10, 2023 | $0.420 | 0.92% |
4 | Apr 18, 2023 | Apr 27, 2023 | May 11, 2023 | $0.370 | 0.91% |
5 | Jan 13, 2023 | Jan 20, 2023 | Feb 03, 2023 | $0.370 | 0.737% |
FAQ
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