BK medium/long-term outlook negative; monitor for turnaround due to oversold status.

Let's take a quick look at the Bank of New York . It is scheduled to announce its results next week, and I want to share this because the Bank of New York is highly regarded as a bank. It's hard to say that given this large downward trend. Let's take a look at the weekly chart, and over time you will see that it is a very well-managed and highly regarded stock. You can see the medium- and long-term outlook as negative at the moment , but it's noteworthy because, based on the company's results, you'd at least want to start monitoring the possibility of a turnaround. We have a significant oversold situation on the daily chart, so it is definitely at the top of my watch list and I will keep it there.