The Greedy Trader Weekly Analysis
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Quarterly Price vs. Fibonacci:Near 23.6% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/5/2024 -
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Bank of New York Mellon Corp. (BK) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :Stochastic has declined below the signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Bank of New York Mellon Corp. (BK). During the week, the BK dropped -0.88 points, or -1.53%, and closed at 56.74 on Friday, April 5, 2024. Weekly volume was -33% below 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 downtrend had started on February 10, 2022 at 64.63 and reached 36.22 on October 13, 2022. BK lost 28.41 points, or 43.96%, in 35 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (44.85) is broken. A broken support is considered to be a long-term bullish signal. 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 58.28 on April 4, 2024. BK gained -22.06 points, or -60.91%, in 77 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (41.87) 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 is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 3, 2023. 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 uptrend had started on February 13, 2024 at 53.40 and reached 58.28 on April 4, 2024. BK gained -4.88 points, or -9.14%, in 51 days. The price is now at the 31.56% retracement level.

Daily Technical Indicators: [See BK daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since March 20, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.39
Williams' Percentage Range (W%R) 37.60
Lane's Stochastic (%D-Slow) 55.06
Greed/Fear Indicator (GFI) 61.28
Moving Average Converg./Diverg. (MACD) 0.47
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.76
Bearish
Williams' Percentage Range (W%R) 12.50
Overbought
Lane's Stochastic (%D-Slow) 77.41
Bearish
Greed/Fear Indicator (GFI) 74.33
Moving Average Converg./Diverg. (MACD) 2.69 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 58.37
Parabolic System 58.34
Daily Stochastic Crossing 57.21
Weekly Stochastic Crossing 57.10
Price 56.74
20 Day Moving Average 56.17
50 Day Moving Average 55.69
Lower Bollinger Band 54.40
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Asset Management & Custody Banks 71
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 53.40
Low Date 02/13/2024
High 58.28
High Date 04/04/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 39.66
Low Date 10/17/2023
High 58.28
High Date 04/04/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 39.65
Low Date 05/16/2023
High 58.28
High Date 04/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 36.88
Support 41.87
Low 36.22
Low Date 10/13/2022
High 58.28
High Date 04/04/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 38.28
Support 44.85
High 64.63
High Date 02/10/2022
Low 36.22
Low Date 10/13/2022
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.