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Uptrend ExhaustionArchive
- 12/13/2024 -
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Bank of New York Mellon Corp. (BK) Technical Analysis
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| Summary:
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| | It was the negative week for the Bank of New York Mellon Corp. (BK). During the week, the BK dropped -1.68 points, or -2.09%, and closed at 78.83 on Friday, December 13, 2024. It was the worst weekly loss since September 6, 2024. Weekly volume was 31% above average.
BK is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See BK long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 26.40 and reached 82.72 on November 29, 2024. BK gained -56.32 points, or -213.33%, in 245 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (45.62) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See BK medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 36.22 and reached 82.72 on November 29, 2024. BK gained -46.50 points, or -128.38%, in 111 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (44.36) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See BK weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since July 12, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See BK short-term trend chart]
A short-term uptrend had started on October 17, 2023 at 39.66 and reached 82.72 on November 29, 2024. BK gained -43.06 points, or -108.57%, in 409 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (70.55) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken 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 below its signal line since December 5, 2024.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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.
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