BLK closes within previous day's range after lackluster session

BlackRock (BLK) Technical Analysis Report for Apr 16, 2018

Highlights

BLK closes below its opening price unable to hold early session gains
BLK closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 33% Bearish
Technical Forecast:

Overview

BLK finished Monday at 524.85 edging higher $0.08 (0.02%) on high volume. Trading $3.46 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 within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for BLK

Volatility

Monday's trading range was $6.79 (1.29%), that's far below last trading month's daily average range of $15.59. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 521.10. Prices are trading close to the key resistance level at 534.65.

Trend

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Selling might speed up should prices move below the nearby swing low at 521.10 where further sell stops could get triggered. With prices trading close to this year's low at 497.37, downside momentum might accelerate should the stock break out to new lows for the year. As prices are trading close to April's high at 544.58, upside momentum could speed up should BlackRock mark new highs for the month. As prices are trading close to April's low at 510.06, downside momentum might accelerate should BLK mark new lows for the month.

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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Latest Report:

BLK closes within prior day's range

Sep 18, 2018
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