BLK closes below its opening price unable to hold early session gains
BlackRock Inc. (BLK) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, BLK ended the week -0.72% lower at 478.95 after losing $5.15 (-1.06%) today. Today's closing price of 478.95 marks the lowest close since August 2nd. Trading $4.54 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 483.51, the share confirms its breakout through the previous session's low having traded $8.18 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (BLK as at Aug 10, 2018):
Friday's trading range was $8.29 (1.73%), that's slightly below last trading month's daily average range of $8.39. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.