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Archive
- 4/5/2024 -
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BlackRock (BLK) Technical Analysis
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| Summary:
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| | It was the negative week for the BlackRock (BLK). During the week, the BLK dropped -36.14 points, or -4.33%, and closed at 797.56 on Friday, April 5, 2024. Weekly volume was 8% above average.
BLK is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See BLK long-term trend chart]
A long-term downtrend had started on November 12, 2021 at 973.03 and reached 503.12 on October 13, 2022. BLK lost 469.91 points, or 48.29%, in 47 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (635.04) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See BLK medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 596.18 and reached 845.00 on March 8, 2024. BLK gained -248.82 points, or -41.74%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (880.33) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See BLK weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See BLK short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 844.64 and reached 790.12 on April 5, 2024. BLK lost 54.52 points, or 6.45%, in 15 days. The price is now at the 13.65% retracement level.
 Daily Technical Indicators: [See BLK daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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