Bank of New York Mellon Corporation

Company Overview: Bank of New York Mellon Corporation (NYSE: BK) is a global investment firm dedicated to assisting customers with the management and servicing of their financial assets throughout the investment lifecycle.

As per our previous US Diversified Opportunities report published on BK on 09^th June 2022, Kalkine provided a ‘Buy’ stance on the stock at USD 45.34 based on ‘large asset under management, consistent dividend payment track record, upside indicated by valuation and key risks associated’, and the stock price has now moved by ~9.42% since then and taking resistance around R1 highlighted in the previous report.

Noted below are the details of support and resistance levels provided in our previous report:

BK’s Daily Chart

BK’s Daily Price Chart. Source: REFINITIV, Analysis by Kalkine Group  

Considering the resistance around current trading levels, risks associated, and volatile market conditions on the back of rising macro uncertainties, a ‘Sell’ rating is assigned to “BK” stock at the current market price of USD 49.61 (as of 25^th January 2023, at 06:46 am PST).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 25^th January 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’