Help us make better tools for you!. Read more (Published: 2017-01-12)

BK - Bank Of New York Mellon Corporation (The) Tue 24'th Jan 2017

Industry: Asset Management Sector: Financial
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Buy Candidate

Score: 1.31

#3283 of 5186
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Accuracy: 78.57%
Risk: Medium
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Stock analysis for Tue 24'th Jan 2017 (Updated daily)

Buy candidate since 2017-01-24

Bank Of New York Mellon Corporation (The) Stock Analysis


Bank Of New York Mellon Corporation (The) gained 1.73% in the last trading day, rising from USD 43.87 to USD 44.63. The price has fallen in 6 of the last 10 days and is down by -6.32% for this period. Volume fell in the last day by -0.31 million shares and ,in total, 6.03 million shares bought and sold for approximately USD 269 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Trend

Bank Of New York Mellon Corporation (The) lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at USD 43.92 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.9% during the next 3 months and, with 90% probability hold a price between USD 46.52 and USD 53.55 at the end of this period.

Signals

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 45.47 and USD 47.43. 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 Monday January 23, 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.

The stock had a Golden Star Signal* on Tuesday October 18, 2016 in the mediumterm chart.

* 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)

The stock currently holds a RSI14 at 29 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.

Support & Resistance

Bank Of New York Mellon Corporation (The) finds support from accumulated volume at USD 44.56, USD 43.51, and USD 43.21. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 44.84, USD 45.54 and USD 46.21.

The stock is about to test the resistance from accumulated volume at USD 44.84 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

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 0.94 (2.14%) between high and low. For the last week, the stock has had a daily average volatility of 3.00%.

Bank Of New York Mellon Corporation (The) is oversold on RSI14 (29). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stoploss: USD 42.93 (-3.81%) ( criteria: risk and closeness to support from trendline.)

Evaluation

Several of the signals/indicators are negative, and we believe this will hoave some effect on the development for the next days and possible weeks. However, for the entire period will still think today's level holds 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 Sell Candidate to a Buy Candidate.

Buy Candidate


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