The banking industry is among the primary things that affect the world’s economy. Not only does it provide financial services to both governments and individuals alike, but also greatly affects the general market mood.
In this article, we’ll provide you with a brief guide on how you can use the BK chart on the FBS trading platform to spot trends and find ways of making a profit in the banking sector.
Factors That Affect the BK Chart
The BK chart focuses on BNY Mellon and allows anyone to gain a clear understanding of the banking sector and of its potential growth. The BK chart is influenced by a number of different factors, which can be anything from decisions made by individual companies to the overall health of the economy. Here are some of the factors that affect the BK chart:
- Dividends. All individuals who hold shares of BNY Mellon are entitled to quarterly dividends that result in a sum of 42 cents per share. The stock price reflected by the BK chart is influenced by the frequency and the size of those payments.
- Earning Reports. Quarterly and annual earnings reports, allow everyone to find out how much BNY Mellon makes. If the earnings exceed the predictions of the experts then the stock price is likely to rise. On the contrary, when the earnings don’t live up to the expectations, the stock price may plummet.
- Mergers and Acquisitions. Throughout history BNY Mellon has bought and sold many companies. The stock price will fluctuate depending on how profitable these deals were and the potential benefits or downsides of the buys or selling of these companies. For instance, when BNY Mellon bought Avox Limited in 2018, which allowed it to improve its capability to manage data, the stock prices shot through the roof.
These are of course not the only factors that influence the stock price reflected in the BK chart. However, it is a good place to start if you’re just testing the water. After you become familiar with all of the factors that influence the BNY Mellon stock price, you’ll be fully equipped to use this knowledge to make a profit off of the price fluctuations.
Quick Tips for Trading with the BK Chart
If you’re planning to make a profit by trading using the BK chart of a platform such as the FBS, you should keep in mind that even with the best strategy, you’re going to incur losses. Thus, it is your job as a trader to do everything in your power to minimize those loses using various techniques and tools available at your disposal, including:
- Stop-Loss and Take-Profit Orders. These orders are automatic and allow you to close your position whenever the price is equal to a certain value. As the name implies, the Stop-loss orders will allow you to cut your losses when the stock price drops. Similarly, Take-profit will allow you to take your profit as soon as the stock price rises to a certain level.
- News and Events. By keeping up with the latest news, you’ll be able to more easily predict the stock prices. Major events quickly translate into fluctuations in the stock market, where the high-risk assets usually lose value, while the safe-harbor assets like gold gain value instead.
By employing these simple techniques you’ll greatly cut down your loss, which is essential if you want trading to be your primary source of income.
Succeed with FBS Trading Platform
If you’re serious about trading, then partnering with an FBS trading platform will pave your way to success. By using the services of FBS trading platform, you’ll have the full toolkit of a professional trader. This platform has everything you need to perform complete analysis of the charts and identify the trends.
