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Bank Of New York Mellon Corp [BK] Shares Fall -1.94 % on Wednesday

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Bank Of New York Mellon Corp shares valued at $901,772 were sold by Santhanakrishnan Senthilkumar on May 08 ’24. At $57.65 per share, Santhanakrishnan Senthilkumar sold 15,643 shares. The insider’s holdings dropped to 144,721 shares worth approximately $8.59 million following the completion of this transaction.

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Also, Kurimsky Kurtis R. sold 6,215 shares, netting a total of over 360,043 in proceeds. Following the sale of shares at $57.93 each, the insider now holds 24,346 shares.

Before that, McCarthy J Kevin had sold 40,000 shares from its account. In a trade valued at $2,245,868, the SEVP & General Counsel traded Bank Of New York Mellon Corp shares for $56.15 each. Upon closing the transaction, the insider’s holdings decreased to 40,000 shares, worth approximately $5.96 million.

As published in a research note from Keefe Bruyette on June 27, 2024, Bank Of New York Mellon Corp [BK] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $70 from $60. Analysts at Morgan Stanley upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in late January. As of December 18, 2023, JP Morgan has increased its “Neutral” rating to a “an Overweight” for BK.

Analyzing BK Stock Performance

During the last five days, there has been a surge of approximately 1.12%. Over the course of the year, Bank Of New York Mellon Corp shares have jumped approximately 13.98%. Shares of the company reached a 52-week high of $60.91 on 07/03/24 and a 52-week low of $51.79 on 01/03/24. A 50-day SMA is recorded $58.58, while a 200-day SMA reached $52.59. Nevertheless, trading volume fell to 1.53 million shares from 3.03 million shares the previous day.

Support And Resistance Levels for Bank Of New York Mellon Corp (BK)

According to the 24-hour chart, there is a support level at 60.20, which, if violated, would cause prices to drop to 59.94. In the upper region, resistance lies at 60.82. The next price resistance is at 61.17. RSI (Relative Strength Index) is 52.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.18, which suggests the price will increase in the coming days. Percent R is at 11.70%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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