Score 8.7 (out of 10): BANK OF NEW YORK MELLON sets up for +7.5% rally in 3 months

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What’s Going On Here?

BANK OF NEW YORK MELLON’s revenues continue to improve but its expenses are also rising. Revenue and expenses were up +1% compared to a year ago. Similar to other banks, BoNYM is expected to benefit in a rising rate environment.

Why Now?

BANK OF NEW YORK MELLON CORP has triggered a new technical analysis signal. During similar occasions, BANK OF NEW YORK MELLON CORP shares had a median return of +7.5%, over the following 3 months – based on 9 historical occasions with 8 of those showing positive returns (89%). This buy signal for BANK OF NEW YORK MELLON CORP received a high score of 8.7 (out of 10). This insight was generated on 2022-February-17 with last price of 57.35.

What’s This Company About?

BANK OF NEW YORK MELLON CORP is in the Fiduciary Banks business. Based on the last 2 years’ risk/return profile, this asset is seen as Moderate Risk. ‘Wall Street’ analysts think the stock price will be worth +20% (average). Ticker symbol: BK US.

What’s My Risk / Reward and Time Horizon?

We found 3 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 61.63 (+7.5%) has been reached. Based on BANK OF NEW YORK MELLON CORP’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 55.15 (last price at 57.35), which is equivalent to a -3.8% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ shown under (2), etc. 

Previous episodes:

13.9% (September-2021), -1.3% (May-2018), 7.5% (February- 2018), 8.7% (November-2017), 12.1% (April-2017), 20.3% (September-2016), 0% (July-2015), 6% (January-2015), 5.8% (October-2014).

Historical Chart:

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Summary:

NameBANK OF NEW YORK MELLON CORP
ViewUp
Star (1 to 10)8.7
Target+7.5%
Time3 months
Hist Rate89%

Popular Insights:

INFOSYS has denied that the company is launching a crypto project. But the company continues to expand aggressively in Costa Rico. ‘Wall Street’ analysts’ think the shares will rally +22% over the next 12 months.

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