BLK closes within prior day's range after lackluster session

BlackRock Inc. (BLK) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (BLK as at Jul 13, 2018):

Daily technical analysis candlestick chart for BlackRock Inc. (BLK) as at Jul 13, 2018

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.

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

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.

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

Market Conditions for BLK as at Jul 13, 2018

Loading Market Conditions for BLK (BlackRock Inc.)...
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