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Financial Setting Up Breakout From High Tight Bull Flag

by | Feb 22, 2024

Bank of New York Mellon (BK) shares of the financial name are coiling in a tight flag near recent highs after a solid earnings report last month and has seen earnings drift materialize and hold above that gap below 53. BK can breakout above 56 and see a run to new highs towards 57.50-60 in the next few months as banks are likely to get another leg higher into any rotations sector wise. Last month saw a buyer of 1700 July $60 calls at $1.45 that remain in OI and a recent buyer of 500 June 2025 $60 calls at $4.40.

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