Here are two possible scenarios for BK, i prefer going with the basis BB Line zone position which is more probable. There is also the second scenario (Lower BB zone) where a big drawback is possible because of the time the divergence has been present.
The Bank of New Your Mellon Corp (BK) weekly chart shows the following signs:
The Price of BK made a doji over the Tenkan Sen and is on bullish signal over the KUMO. The MACD isneutral and the RSI bullish. The Stock is over the EMA200. In last post I described a cup with handle pattern.
I expect that the stock will continue the bullish movement until the...
The Bank of New Your Mellon Corp (BK) daily chart shows the following signs:
The Price of BK made a Long movement with green candlesticks the last two weeks over the Tenkan Sen and gave a bullish signal getting over the KUMO. The MACD is on bullish sign and the RSI too. The Stock is over the EMA200. In near past it has made a cup pattern. Now the BK price is in...
The Bank of New York Mellon Corporation provides various financial products and services worldwide and the stock has been under performing the stock market, but I think it is time to rip to the upside. Today we saw a trader buy almost 10,000 BK Sep 35 Calls for $1.08 which was over 6.0 times the normal volume in a day and control over 1 Million Shares of Stock. ...
This is just a demo play because of the bad risk:reward ratio here.
Moving average indicates bullish behaviour, price has retraced back to around the 0.50 level with a good candle formation. Target is at nearby resistance.
