The Hourly View for BK
At the time of this writing, BK (Get Ratings)’s price is down $-0.45 (-0.89%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
BK ranks 124th in terms of today’s price percentage change out of Banking stocks.
BK’s Technical Outlook on the Daily Chart
At the moment, BK’s price is up $0.03 (0.06%) from the day prior. BK has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Bank of New York Mellon Corp’s price action over the past 90 days can be seen via the chart below.
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