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


BLK closes below its opening price unable to hold early session gains
BLK closes lower for the 3rd day in a row
BLK breaks below previous session low
BLK falls to lowest close since August 2nd
BLK ends the day indecisive


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):

Daily technical analysis candlestick chart for BlackRock Inc. (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.

Market Conditions for BLK as at Aug 10, 2018

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