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The Bank of New York Mellon Corporation
Long
Updated

$BK daily #chart possible bullish #breakout

49
BK stock price has been trading for almost 2 years inside a descending parallel channel
After good earnings report in OCT'19 stock has risen fast and notice the accumulation bars on the volume chart
MACD and RSI in expansion mode
In order to participate look out for a breakout AND CLOSE above the descending line
Measured targets are:
T1 - lower edge of the mirroring channel around 62.33
T2 - higher edge of the mirroring channel around 70.58

Good luck,
TA
Trade closed: stop reached
Stoped out
TA
RA_Capital
Also on:
Chart PatternsDescending ChannelTechnical IndicatorsTechnical Analysis

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Chart PatternsDescending ChannelTechnical IndicatorsTechnical Analysis
RA_Capital
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.