BNY – The Bank of New York Mellon Corporation
BNY Breaks Out as Investment Banks Push to All-Time Highs
BNY – The Bank of New York Mellon Corporation
Date: 1 June 2026
Sector: Finance / Investment Banks & Brokers
Exchange: New York Stock Exchange
TradingView link: https://www.tradingview.com/x/lpEYgtzl/
One great thing about markets is that they are always throwing up outliers and surprises, which can make you rethink any bias you may have.
Recently, two large investment banks, Morgan Stanley and Goldman Sachs, have been pushing out to all-time highs. They are the bigger names, so naturally they get more media attention, but another bank is also pushing toward all-time highs: The Bank of New York Mellon Corporation.
With Morgan Stanley, Goldman Sachs, and BNY all breaking out, the question is whether these could be the leaders of the pack, with other banks potentially following.
I have also noticed a number of Canadian banks reaching all-time highs. That is slightly different because the Canadian stock exchange is heavily weighted towards miners and banks, so it is not a perfect comparison. Even so, it adds to the broader point that financials are starting to show strength.
It makes sense that if companies are raising capital, that capital has to be borrowed or organised somewhere. If that is through a bond raise rather than a direct loan, the large investment banks are likely to be involved. For example, Goldman Sachs is reportedly managing the SpaceX IPO, which would likely be a meaningful fee opportunity for them.
Regardless, the sector seems to be moving up, capital appears to be rotating towards it, and price action is beginning to reflect that.
Higher timeframe structure analysis
BNY has been around for a considerable time, with the stock going back to 1969.
When it first floated, it traded around $2. As of the close on 1 June, the stock is trading around $140.
To get the full breadth of this market, I have had to use 3-month candles.
Even so, this is perhaps one of the cleanest and easiest long-term boxes to draw. Effectively, it is one large box spanning almost 24 years, from 2000 through to 2024.
During that time, BNY moved sideways between roughly $64 at the top of the range and $13 on the downside.
The stock then broke out of this very long-term box in August 2024 and has been moving steadily higher ever since.
Looking at it on the weekly timeframe, there has been a steady progression of higher highs and higher lows.
There was one break of structure, which I have marked on the chart, but that was quickly brought back up. After that, the stock resumed its upward march, continuing the pattern of higher highs and higher lows.
Lower timeframe execution analysis
Drilling down to the 4-hour timeframe, the most recent U-shaped pattern is clear.
BNY reached a peak around $139, then paused and corrected down to roughly $130.
From there, price moved back up, pushed through the previous $139 high, and continued higher to around $143.
That means the stock has now broken above its previous all-time high.
Since breaking through that level, we have had five closes above the previous high. For me, that more than warrants considering this as a valid long setup.
Entry trigger
The entry trigger has been met.
BNY has delivered five closes above the previous all-time high, confirming that the price is holding above the breakout level.
Initial stop loss
Previous 4H swing low.
Multi-timeframe correlation
3M: Blue candle
1M: Blue candle
1W: Blue candle
1D: Blue candle, having previously been grey
4H: Blue candle
When should I tighten the stop-loss?
Last 4H swing low
Additional notes if required
When do I add to the position?
Additional position on the next confirmed 4H pullback
Potential target range (daily)
$196
Activated price targets
Am I in this trade?
No
Current return (R multiple)
0R