Fri 21'st Apr 2017
Bank Of New York Mellon Corporation (The) Stock Analysis
Technical stock analysis for Fri 21'st Apr 2017
Buy candidate since 2017-04-20 Gain 0.21%
Bank Of New York Mellon Corporation (The) lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.3% during the next 3 months and, with 90% probability hold a price between USD 47.93 and USD 51.86 at the end of this period.
Bank Of New York Mellon Corporation (The) holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at USD 46.79 and USD 47.24. A break-up above any of these levels will issue buy signals. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday April 13, 2017, which indicates further gains 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 may be an early warning. The stock should be watched closely.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 42 and the stock is currently not being overbought or oversold
Support & Resistance
Bank Of New York Mellon Corporation (The) finds support from accumulated volume at USD 46.65, USD 46.42, and USD 45.02. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 47.14, USD 48.50 and USD 46.89.
The stock is about to test the resistance from accumulated volume at USD 47.14 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 0.64 (1.37%) between high and low. For the last week, the stock has had a daily average volatility of 2.25%.
Our recommended stoploss: USD 44.16 (-5.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, for the wholesome period, we think that today's level holds a possible buying-opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.