15.04.2015 - Shares of Bank of New York Mellon may continue to grow

The stock price of Bank of New York Mellon continued to rise after a rebound from a strong support level at 39.00. At the moment, quotes approached to the level of a local maximum near 41.00. In case of breaking this resistance, we recommend to open long positions with the growth potential to 43.00 and 46.20. On the other hand, in case of reduction, there is a risk of falling prices to 39.00 and then decline may continue until the lower boundary of the rising channel. We recommend to wait for a signal to open positions, but forecast the medium-term growth.

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