BLK closes within prior day's range after lackluster session

BlackRock (BLK) Technical Analysis Report for Jul 13, 2018

Highlights

BLK closes higher for the 2nd day in a row
BLK rises to highest close since June 26th
BLK closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 20% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, BLK ended the week 3.13% higher at 507.09 after gaining $0.42 (0.08%) today on high volume. Today's closing price of 507.09 marks the highest close since June 26th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for BLK

Volatility

Friday's trading range was $8.07 (1.58%), that's below last trading month's daily average range of $9.36. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to a key support level at 503.31.

Trend

Although the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Selling could speed up should prices move below the nearby swing low at 498.05 where further sell stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for BlackRock

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