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BK Stock Tickeron detected bullish Stock Pattern: Broadening Top BK on September 20, 2024, netting in a 6.68% gain over 3 weeks

A.I.dvisor
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+6.68% Gain from a Successful pattern Broadening Top
BK - Bank of New York Mellon Corp
Tickeron
Ticker: BK
Company: Bank of New York Mellon
Gain: +6.68%
Confirmed: 09/20/24
Succeeded: 10/14/24
Total length: 25 days
On September 19, 2024, A.I.dvisor detected a Broadening Top Pattern (Bullish) for Bank of New York Mellon Corp (BK, $71.72). On September 20, 2024, A.I.dvisor confirmed the Bullish pattern, setting a target price of $77.03. 24 days later, on October 14, 2024, BK reached the target price resulting in a for traders who took a long position in the stock.

BK's Stochastic Oscillator descending into oversold zone

The Stochastic Oscillator for BK moved into oversold territory on December 11, 2024. Be on the watch for the price uptrend or consolidation in the future. At that time, consider buying the stock or exploring call options.

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BK advanced for three days, in of 343 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 355 cases where BK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for BK moved out of overbought territory on December 02, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 45 similar instances where the indicator moved out of overbought territory. In of the 45 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on December 10, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BK as a result. In of 88 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for BK turned negative on December 04, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 45 similar instances when the indicator turned negative. In of the 45 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BK declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BK broke above its upper Bollinger Band on November 22, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

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General Information

a major bank

Industry

Profile
Fundamentals
Details
Industry
Major Banks
Address
240 Greenwich Street
Phone
+1 212 495-1784
Employees
53400
Web
https://www.bnymellon.com