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Bank of New York Mellon (BK) Downgrade Alert, Watch for 3.6% Technical Uptrend Reversal

Sep 21, 2009 (SmarTrend(R) Spotlight via COMTEX) --

Company: Bank of New York Co., Inc. (The) (BK)

Bank of New York Mellon (NYSE:BK) downgraded to Neutral, $33 target, at Goldman. The stock closed Friday at $30.30 on volume of 12,056,900 shares, below average daily volume of 12,671,243.

Bank of New York Mellon is currently above its 50-day moving average of $28.60 and above its 200-day moving average of $27.20.

SmarTrend is bullish on shares of BK and our subscribers received an Uptrend alert on May 06, 2009 at $29.25, which has returned 3.6% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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News Provided by COMTEX

Company: Bank of New York Co., Inc. (The) (BK)


Related terms: bank, market, new york, nyse, securities

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