BK closes lower for the 2nd day in a row
Moving lower for the 2nd day in a row, BK finished the week -3.32% lower at 51.02 after losing $1.27 (-2.43%) today on high volume. Today's closing price of 51.02 marks the lowest close since April 11th. Closing below Thursday's low at 52.27, the market confirms its breakout through the previous session's low having traded $1.71 below it intraday.
Friday's trading range was $1.11 (2.15%), that's above last trading month's daily average range of $0.87. Weekly volatility is also higher, being above the markets average with the monthly volatility being above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With prices trading close to this year's low at 49.39, downside momentum could speed up should the share break out to new lows for the year.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for The Bank of New York Mellon Corp.
|White Candle||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|High close to previous two Highs||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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