CFD Trading – Sell Bank Of New York Mellon Corporation(BK.NYS) @ $35.90. Stop at $37.60 and Target at $32.50

Bank of New York Mellon Corporation Stock Code BK.NYS

Price broke below the cloud two days ago after a failure attempt to break out from the top edge of the cloud on 11 August 2020.  Conversion and Base lines do not have a bearish crossover as yet to confirm the bearish trend. However, Lagging Span has confirmed the bearish trend. Lagging Span is below price of 26 days ago and also below the cloud. MACD is bearish and is moving lower below the zero line. Price is currently above a support point at $35.20 and if this support breaks, price is likely to decline lower to $32.50. With MACD moving lower, we are expecting price to break below $35.20 and heads lower to $32.50.

$35.90                Sell
$32.50                Price Target
$37.60                Risk Management Stop
2 weeks Trade Duration

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