Black Rock BounceTechnicals:
Weekly horizontal support bounce with weekly 5EMAs set-up
Daily bounce off weekly horizontal support with extreme indicator
uHd
shallow crown pattern with little pb
1BLK trade ideas
Technical Analysis of BlackRock Inc. BlackRock Inc. (BLK) is exhibiting a notable bullish trend in its recent price action, trading at $788.43 with a 1.30% increase. The technical indicators and candlestick patterns suggest potential upward momentum, which warrants a closer examination for strategic entry and exit points.
The Ichimoku Cloud indicates a bullish crossover, with the price breaking above the conversion line (blue) and the base line (red), indicating a shift towards a bullish trend. The lagging span (green) is above the price, confirming this bullish sentiment. The future cloud is thinning, suggesting a potential decrease in resistance, which supports further price ascension.
Current Support: $778.44 (Pivot Point)
Resistance Levels: R1 at $811.32 and R2 at $868.01
Moving Averages
The Exponential Moving Averages (EMAs) indicate a bullish trend:
10 EMA: $771.92
20 EMA: $772.43
50 EMA: $782.27
The price is currently above these EMAs, which are acting as support levels, further solidifying the bullish outlook.
Stochastic RSI: Reading at 97.74, indicates overbought conditions, suggesting a possible short-term pullback before continuation.
Relative Strength Index (RSI): At 57.09, showing moderate strength without being overbought, supporting a continued uptrend.
Commodity Channel Index (CCI): At 212.29, well above the 100 mark, indicating strong bullish momentum.
MACD: Showing a bullish crossover with a MACD level of -3.91, reinforcing the upward trend.
Volume and On-Balance Volume (OBV)
The volume is at 227.87K, which is lower than the 30-day average of 649.36K, suggesting cautious trading sentiment. However, the On-Balance Volume (OBV) at 165.452M shows accumulation, which is a positive sign for continued upward movement.
Support Levels: S1 at $721.75 and S2 at $688.87
Resistance Levels: R1 at $811.32 and R2 at $868.01
Trendline analysis indicates a breakout above the recent downtrend, targeting the next resistance at $811.32.
Long Position:
Entry Point: Consider entering a long position if the price sustains above $791.28 (recent high).
Target: The first target is $811.32, with a secondary target at $868.01.
Stop Loss: Set a stop loss at $778.44 to mitigate potential downside risk.
Short Position:
Entry Point: If the price fails to hold above $778.44 and shows signs of reversal.
Target: The first target is $745.55, with a secondary target at $721.75.
Stop Loss: Place a stop loss at $791.28 to protect against a bullish breakout.
Speculative Price Prediction
Given the current bullish indicators and market sentiment, BlackRock Inc. (BLK) is likely to test the resistance at $811.32 within the next few trading sessions. If the bullish momentum continues, we could see prices approaching $868.01 in the medium term. Traders should watch for any signs of reversal at these key levels to adjust their positions accordingly.
BlackRock Inc. (BLK) is positioned favorably for a bullish continuation, with key technical indicators and moving averages supporting an upward trajectory. Traders are advised to monitor the outlined support and resistance levels closely and adjust their strategies in response to any significant price movements or changes in trading volume.
BlackRock & Jio Financial To Launch Wealth Management in IndiaMumbai-based Jio Financial Services (JFS) and US asset management firm BlackRock ( NYSE:BLK ) have announced their intention to establish wealth management and brokerage services in India. As per the filing made with the National Stock Exchange of India, the joint venture will be equally divided between the two firms, thereby resulting in the inception of two separate companies. The proposed structure is similar to the previous agreement announced in July 2020, which resulted in a suite of asset management services for the Indian investment community. The investment of $300 million in this current joint venture will leverage JFS's digital infrastructure capabilities, local market knowledge, and robust execution capabilities.
JFS, formerly a subsidiary of Reliance Industries, presently offers retail and business banking services, including a digital banking app, loans, insurance options, and merchant-focused payment solutions. The new venture, subject to regulatory approval, will expand the partnership's offerings to include regional wealth management and brokerage services. While the exact nature of the proposed services remains unclear, this initiative is expected to provide a significant boost to India's fast-emerging retail investor market, particularly given BlackRock's current standing as the world's largest asset manager.
Blackrock priced in goldMASSIVE TOPPING STRUCTURE IN PLAY
Watch that thick black line to know when the odds shift drastically against #Blackrock and more in favor of #Gold.
BLK BlackRock Options Ahead of EarningsIf you haven`t bought the dip on BLK:
Then analyzing the options chain and the chart patterns of BLK BlackRock prior to the earnings report this week,
I would consider purchasing the 760usd strike price Puts with
an expiration date of 2024-5-10,
for a premium of approximately $11.50.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
BlackRock Hits Record $10.5 Trillion in Assets Under ManagementIn a financial feat that has stunned market analysts, BlackRock ( NYSE:BLK ) has shattered records, boasting a staggering $10.5 trillion in assets under management (AUM) in the first quarter. This milestone, coupled with a remarkable 36% surge in profit, underscores BlackRock's dominance in the global investment landscape.
The surge in AUM, propelled by a robust rebound in global equity markets, reflects investor confidence in BlackRock's prowess in navigating volatile market conditions. As expectations of rate cuts by major central banks gained traction, investors flocked to BlackRock ( NYSE:BLK ), driving a remarkable 15% increase in AUM compared to the previous year.
While the investment advisory and administration fees soared nearly 8.8% to $3.63 billion, total net inflows experienced a dip to $57 billion from $110 billion a year earlier. This softness in inflows is attributed to cautious investor behavior, with many waiting on the sidelines for interest rate cuts before reentering riskier assets.
Analysts foresee a resurgence in asset management industry flows post-interest rate cuts, anticipating a migration of cash reserves from the sidelines into riskier assets. BlackRock's total revenue surged 11% to $4.73 billion in the quarter, fueled by higher performance fees, technology revenue, and the impact of surging markets on average AUM.
BlackRock's robust performance extends beyond traditional investment management. Its technology revenue witnessed a remarkable 10.9% jump to $377 million, indicative of sustained demand for its Aladdin investment management platform. This platform has become indispensable for retail and institutional clients globally, including sovereign wealth funds, insurance companies, and large corporations.
The company's stellar financial performance is further underscored by its impressive net income of $1.57 billion, or $10.48 per share, in the first quarter, compared to $1.16 billion, or $7.64 per share, a year earlier.
While BlackRock's shares have experienced a slight dip of about 3.2% this year, underperforming the benchmark S&P 500 index, its commanding position in the asset management industry remains unchallenged. As markets continue to evolve, BlackRock's unwavering commitment to innovation and excellence positions it for continued success in navigating the complexities of the global financial landscape.
BLACKROCK TP 806 As of the most recent data, the stock price for BLK is approximately $803.981. Here are some relevant points to consider:
Analyst Consensus Price Target (2024): The average consensus price target for BlackRock is $796.00, with a range from $542.00 (low) to $938.00 (high). This indicates a potential upside of approximately 0.60% from the current price.
Long-Term Forecast (2025): Based on technical indicators, the current sentiment is bearish, but BLK could still hit $1,167.96 by 20252. Keep in mind that trading in bearish markets can be challenging and may result in losses.
Long-Term Price Forecast (2050): Analysts predict that by 2050, the median target price for BLK could be $4,462.69, representing a substantial increase from the current price.
BLK - always a good option, long term buyBLK, well we all know what they do :) having a huge stake in Ukraine, US moving to Caucasus seems like the company will be spending a little bit in the upcoming time, and the market momentum does not look high, so possible downtrend as we could not break the 770ish area, green area is buy zone, i buy long term so happy to buy around these times.
BlackRock ... Breakout Passing out of levels can be a good opportunity. There is a good breakout of a level by powerful bullish candle that can be a buying signal. The target at 915 will be touched so soon. Do not forget setting a sure SL for your position.
BLK lifting into new ATHs, 980 and beyondPreparing for next earnings
900 soon
Possible ATH by next Earnings on 4/12
Preparing for 1000 after Earnings.
Financial Titans Stocks: Macro Fib SchematicsThese are the largest financial institutions in the world. BlackRock, BlackStone, State Street Corporation, American Express Company. CME Group, NY Bank of Mellon Corporation, and Vangaurd. This is not a Bank Sector Idea. This is a Financial Conglomerate type of idea rather than individual banks. Because these companies realistically OWN the banks.
BlackRock, State Street, and Vanguard are the main three who own most of the stocks and therefore many percentages of tons companies.
-The "Dot Com" means they were formed from the Dot Com Bubble.
-The Collapse of the Bretton Woods System was in 1973. This is where we switched from a gold standard to the dollar standard.
-Black Monday of 1987 was a global market crash which was blamed on Computer Algorithms... HINT HINT: What you are looking at. "algorithms don't describe it well enough.
Chart Patterns (Lesson 1)~ The Misleading Rising Wedge The Misleading Rising Wedge on Ethereum
Over the past few weeks a prominent trader who I admire has been adamant about Ethereum forming Rising Wedge, which is a bearish reversal pattern. I disagreed with this view but acknowledged the concern raised as any reasonable trader would. However, It caused me a bit discomfort as I have a large position in Ethereum since 2022 BUT I stuck to my guns and held my position.
Folks, this wedge caused me enough discomfort that I needed to dig a little deeper on it and what I found is surprising to say the least. So lets have a look at THE WEDGE.
What is a Wedge Formation?
“Wedges are clearly defined patterns of converging price trend, pointed sharply up or down; they forecast a reversal of the trend which forms them”.
From Richard Schabacker - Technical Analysis and Stock Market profits.
The Rising Wedge will have slightly higher highs and higher lows compressing into an upward leaning point. The Rising Wedge is typically viewed as a bearish reversal pattern as it demonstrates waning price action with smaller thrusts and smaller declines showing a potential exhaustion of price action followed by a sweeping reversal.
The Ethereum Dilemma
On the 4th December 2023 I shared the below picture to illustrate a dilemma, was price forming a Rising Wedge (Bearish Pattern) or an Ascending Triangle (Bullish Pattern)?
Turns out either way it’s not necessarily bearish as a Rising Wedge can continue in an upwards trajectory and breakout to the upside. I have found 4 examples of bullish Rising Wedges that are recent or relevant, I tried my best to find similar price action and structure also.
The four Rising Wedges in the main chart above have a few characteristics that give them an upwards breakout plausibility;
1. Most importantly the On Balance Volume (OBV) indicator is rising. Increasing volume helps the plausibility of continued upwards momentum, whilst decreasing volume would warrant caution of a possible breakdown and reversal of price direction. Remember the Rising Wedge is defined by waning and exhaustive price action (smaller thrusts and declines compressing to a point) and declining volume is suggestive of such exhaustion/lack of interest.
- Going forward we should carefully monitor the volume on Ethereum as Schabacker does warn of false break outs and false break downs in Wedges. In the event volume starts to decline, breaking its trendline or taking out recent lows, this could be an early warning sign that we need to reduce position size and prepare to exit. Just something to keep in mind.
- The volume on Bitcoin and Ethereum for the Rising Wedge bullish thesis is a little rocky compared to the BlackRock and Ultratech charts volume which both have more consistent upward volume pressure. Just another observation.
2. All four charts have a 200 weekly moving average that is slopping upwards with price above it or price eventually establishing above the 200 week.
3. Each target is a measured move by taking the widest two touch points on the thickest side of the wedge and placing that length of width at the breakout point to establish the target (red arrows on charts).
4. The top two charts (BlackRock and Ultratech) show that price struggled once it met the prior all time high. These were stiff resistance areas for price either in the wedge or immediately the wedge for 21 – 26 weeks of consolidation price action.
- In the event this happens with CRYPTOCAP:ETH , we could see significant resistance at $4,600 (All Time High) for a period of 20 odd weeks or something similar. We could at minimum expect resistance at this level as wedges identified illustrate this is a possibility.
5. Another clear pattern on all four Rising Wedges is that prior to wedge formation, the price reached an All Time High, then significantly declined to form the base of the newly forming wedge. I would also argue that the compression or underside angle in all four charts is to a greater degree than the compression from the ceiling forming on the wedge. I realize this is open to your perception, but that’s how I see each charts pattern.
We are now aware that Rising Wedges can be bullish formations and that increasing volume contributes positively towards the possibility of a break to the upside. You might still be wondering…which was Ethereum an Ascending Triangle or a Rising Wedge.
Let’s ask Schabacker....
I would argue that Schabacker’s description below may indicate that Ethereum was in in fact forming an Ascending Triangle.
Schabacker advises under the heading THE WEDGE MUST BE STRICTLY DEFINED “The Wedge must point sharply up or down. A converging pattern which is projected on the chart in a nearly horizontal direction is more apt to partake of the nature of a true triangle, and the student will note that the forecast in that case would be quite different”
Ethereum’s Wedge was not pointing “sharply up” and you could argue that the line was “nearly horizontal” either by degrees or by selecting other very close points of contact. Combine with this my earlier observation that the price underside compression angle was far greater that the upper lines weak slant.
A major reassurance to me in this ETH trade was when I discovered that increasing volume can offset the bearish tone of a rising wedge. It gave me something to monitor and helped keep me on the right side of probability.
I really hope this short review of rising wedges can help you stay on the right side of probability.
PUKA
BlackRock BLK on the NYSE is ready to riseThere is a flag pattern after the sharp rise and breakout and using the measured rule for target BLK is ready to rise
BlackRock, breakoutUptrend
It's a breakout of a trend line and also you can consider it as a flag and as you see, it left the rectangle, I bought it today and probably I'll add tomorrow if a good candle seen.
BlackRock Short from 820-850BlackRock company short.
Trend Up to 820-850, then wait correction, move down.
$BLK - watch this👀NYSE:BLK
Daily chart:
Last week, it showed weakness - currently hovering around the 785-790 support but below 20ema.
➣ A daily close below 785 ➳ may lead to a retracement towards the next support at 760-762, potentially filling the volume gap.
➣ Solid volume shelf above 790 + RSI bearish divergence.
__
Weekly chart:
Last week, it formed a bearish engulfing candle with a higher selling volume, following a hanging man candle from the prior week.
BLK - Short The Big GunsThis is not a stock I would really be looking to short but there are a series of technical events leading me to set a limit short entry.
This is also in consideration of the gap down in indexes that is the first evidence that a bearish phase may now be underway in stock markets.
Where "SRP" is on the chart looks like a "Right Shoulder" / "Last Point Of Supply" (Wyckoff) bearish shakeout .
That has been followed by a big gap down today to leave the upper area as a circled "island" with a gap and and gap down on both sides.
This island is effectively a higher time frame Evening Star candle pattern and is very attractive to shorters.
Interestingly at the open there has been a strong bounce and the gap has almost filled already.
That was a bear trap and I think it is what I have been calling a "Breakaway Shakeout" where the bounce has arrived just as momentum has increased to wriggle out traders trading the breakout.
And so I think the gap can fill before the bearish trend continues and I have a limit short there @ $791.38.
Reasonable chance it will get back to the 0.618 @ $793.22 that is just above the gap.
Worth noting also that this area is higher volatility whipsaw post earnings. And that is also positive for a tricky reversal 👍.
Not advice.
BlackRock's Ambitious Move: Navigating the Ethereum ETF BlackRock ( NYSE:BLK ), one of the world's largest asset managers, is eyeing a bold move to follow its successful Bitcoin ETF debut with an Ethereum ETF. However, the journey to market and successfully promote an Ethereum-backed product might not be as straightforward as it seems.
The Bitcoin ETF Success Story:
BlackRock's ( NYSE:BLK ) entry into the cryptocurrency space began with the launch of its Bitcoin ETF, gaining widespread attention and positive reception. CEO Larry Fink initiated a marketing drive for a second spot ETF, this time with Ethereum as the underlying cryptocurrency. Fink emphasized the transformative utility of Ethereum's blockchain, highlighting its potential value.
Challenges in Marketing an Ethereum ETF:
The challenge lies in convincing investors who have already diversified their portfolios with a Bitcoin ETF to consider adding an Ethereum-based product. Sui Chung, CEO of CF Benchmarks, a partner firm on BlackRock's Bitcoin ETF, pointed out that investors may question the necessity of another crypto diversification tool after investing in Bitcoin.
Bitcoin as a Diversification Tool:
Chung emphasized the role of Bitcoin in portfolio diversification, citing its behavior and price history as potent diversifiers in traditional investment portfolios. The addition of a small allocation of Bitcoin has been shown to boost the overall risk-adjusted return, making it a compelling investment choice.
Educational Foray into Ethereum:
BlackRock CEO Larry Fink has begun delving into the complexities of Ethereum by mentioning tokenization, a concept gaining traction in traditional finance. However, Chung suggests that an educational approach should also cover smart contracts, decentralized finance (DeFi), and the intricacies of blockchain staking, all of which form integral parts of the Ethereum ecosystem.
ESG Concerns and Marketing Strategy:
While Ethereum's move to a greener validator model differentiates it from Bitcoin's energy-intensive proof-of-work system, concerns about environmental, social, and governance (ESG) issues may not be the ideal marketing angle. Chung suggests caution in navigating the ESG controversy surrounding investing today.
Conclusion:
As BlackRock ( NYSE:BLK ) explores the possibility of launching an Ethereum ETF, it faces the challenge of convincing investors about the unique value proposition of Ethereum in addition to Bitcoin. Navigating the complexities of Ethereum's ecosystem, explaining concepts like smart contracts and DeFi, and addressing ESG concerns will be crucial in developing a compelling marketing strategy for BlackRock's potential Ethereum ETF. The success of this endeavor could reshape the landscape of cryptocurrency investments and further solidify BlackRock's position as a key player in the financial industry's embrace of digital assets.
BLK : Booked a profit of 22.76% on the invested capitalBooked profits purely due to technical reasons.
Market seems a bit over valued and so there is a possibility for a sell-off in the near future. So decided to take some chips off the table. Hence booked profits since the price is close to inflection points that may trigger a sell-off.
Clearly aware of the fact that there is a possibility for a potential up move of about 20%, from the current levels, in the near term. But at the current situation the downside risk weighs more.
Will consider a re-entry if price falls back to the low of the channel line.
Defense of the last peakAfter breaking through the triangle formation, we can expect declines. It will be safe to assume that the price will reach the S/R level marked on the chart, which gives us a 2:1 profit to risk ratio
BLK: aiming for the upper range?I price action above 738 supports a bullish trend direction.
Increase long exposure for a break above 738.
The target price is set at 832 (upper range of the inclining channel pattern).
The stop-loss price is set at 719.
Recently crosses above its 200-day and week simple moving averages, confirming a bullish stance.
Asecending or decending wedge BLK Blackrock
most poplulary know for its 10 trillion dollar capital, has some excitment coming and itll be not so boring to watch from now up unitl early next year. YTD down 0.44% its bouncing like a lowrider a real gangsta mexican would be driving with the essays. i will be watching this and i am sure that i am not the only one.
WEEKLY CRYPTO HIGHLIGHTS -BLACKROCK STEALS THE LIMELIGHT, AGAIN!WEEKLY CRYPTO HIGHLIGHTS -BLACKROCK STEALS THE LIMELIGHT, AGAIN!!
The recent crypto Spot ETF developments, with BlackRock heading the tide in the industry, have proved that ETF approvals are not a matter of ‘if’ but a matter of ‘when.’
Amid the market recovery, Ripple’s XRP is trailing behind as a result of its ongoing case with the United States SEC.
SBF is headed to jail – and for a long time – the news has revived the FTT price and hope for FTX investors.
The crypto markets have been up this week, and many analysts have confirmed the beginning of a bull run. In this week’s spotlight, BlackRock, the financial giant that seems to have an insatiable trading appetite, has once again emerged as a key player in the crypto space.
From groundbreaking investments to strategic moves, BlackRock’s influence on the crypto market continues to shape the narrative and captivate the attention of investors worldwide.
