The Greedy Trader Weekly Analysis
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Bank of New York Mellon Corp.
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Summary:
Weekly :Williams' Percentage Range is overbought
Daily :The price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageTrend resistance at 53.03The price moved above the moving average in the center of the Bollinger Bands
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It was a second consecutive positive week for the Bank of New York Mellon Corp. (BK). During the week, the BK gained 1.63 points, or 3.18%, and closed at 52.81 on Friday, April 12, 2019. Weekly volume was -17% below average.

Long-term trend: [See BK long-term trend chart]
A long-term downtrend had started on January 16, 2018 at 58.99 and reached 43.67 on December 26, 2018. BK lost 15.32 points, or 25.97%, in 49 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 41.39 and resistance is at 56.56. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See BK medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 43.67 and reached 54.27 on March 19, 2019. BK gained -10.60 points, or -24.27%, in 11 weeks. The price is now at the 13.77% retracement level.

Weekly Technical Indicators: [See BK weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 11, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See BK short-term trend chart]
A short-term downtrend had started on March 19, 2019 at 54.27 and reached 49.87 on March 22, 2019. BK lost 4.40 points, or 8.11%, in 3 days. The chart has formed a Rectangle chart pattern. The price is near the trend resistance line (53.03). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.

Daily Technical Indicators: [See BK daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since April 4, 2019. The distance between MACD and the signal line is low, but getting bigger.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.96
Williams' Percentage Range (W%R) 40.20
Lane's Stochastic (%D-Slow) 65.88
Greed/Fear Indicator (GFI) 66.20
Moving Average Converg./Diverg. (MACD) -0.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.50
Williams' Percentage Range (W%R) 16.70
Overbought
Lane's Stochastic (%D-Slow) 45.41
Greed/Fear Indicator (GFI) 61.05
Moving Average Converg./Diverg. (MACD) 0.03
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 56.56
Upper Bollinger Band 53.47
Weekly Trendline Resistance 53.03
Price 52.81
Daily Stochastic Crossing 52.15
50 Day Moving Average 52.04
Weekly Stochastic Crossing 51.50
20 Day Moving Average 51.41
Parabolic System 49.94
Lower Bollinger Band 49.62
Weekly Trendline Support 48.45
Sector and Industry
Description Name Rank
Sector Financial 6
Industry Money Center Banks 54
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 49.87
Low Date 03/22/2019
High 52.92
High Date 04/12/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Rectangle
Status Test Resistance
Resistance 53.03
Support 48.45
High 54.27
High Date 03/19/2019
Low 49.87
Low Date 03/22/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.67
Low Date 12/26/2018
High 54.27
High Date 03/19/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 56.56
Support 41.39
High 58.99
High Date 01/16/2018
Low 43.67
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15.44
Low Date 01/20/2009
High 58.99
High Date 01/16/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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