I have observed that BK buyers has been struggling to prop it up from the beginning of 2019 with BK down for the year amidst broad market strength. With BK staging a modest rally from the lows, it may now be facing some serious overhead resistance as it approaches the key psychological level of 50. BK may head back to 48 then to 45 should buyers fail to hold.
Undervalued by 38% using Div Yield Theory, 25% <5 yr PE
-BRK's most undervalued bank holding
-Nearing 30 year demand uptrend line
- 8 years consecutive dividend increases
Understanding The trade:
As an options trader my goal is to identify trend change and utilize a breakout strategy to leverage profit off of major trend changes with minimal risk. Even though this contract does not expire till 7/19 I will be looking to take profit by early July as the rate of decay factor starts to come into play as the contract approaches expiry....
I like the look of this chart the clean double bottom and MACD divergence indicates prices should be around 44.5. Bought some June 28 43.5 calls for 39c
On a hourly basis, selling pressure accelarated and exceeded the regular sell of pace. Rather than technical analysis only, I also did my own fair value analysis for the stock, and at this point, there is a strong underlying value which may support the price at these levels. On given the price in june and today there is a formation of double bottom and given the...
BKS is forming within a rising wedge on the daily, approaching near major resistance @ 7.86.
The weekly trend has been changed which is very notable.
In order to maintain this bull run and completely enter a new trend in 2019, the price needs to set a higher low on daily before continuation.
Two areas to go long, dark purple present buying opportunity, if it breaks, i can see bk trading to light purple line. If conservative wait for 1st support to break, requires patience. #GL
The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Investment Management, Investment Services, and Other. The Investment Management segment provides services to institutional and retail investors, as well as investment management, wealth and estate planning. The Investment Services segment includes institutional trust and custody fees, broker-dealer services, corporate trust, depositary receipts, and foreign exchange. The Other segment consists of leasing portfolio, corporate treasury, derivatives, and insurance services. The company was founded by Alexander Hamilton on June 9, 1784 and is headquartered in New York, NY.
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BK
