BLK had a run up ahead of its earnings report and then had a mild profit-taking day before the release. Volume is increasing as it reaches a stronger resistance level on today's earnings report reaction. Blackrock is the largest Derivatives Developer of Exchange Traded Products for the stock market. ETFs are its specialty.
$BLK Missed on earnings and revenue estimates yesterday. Technically the stock looks to be in a clear downtrend since peaking in January 2018. Will be looking for a weekly close this week at or below the 200d ema line - approximately $412. Targeting $340-$350 range by mid to late March.
Also of note, some bearish options activity this morning after the earnings...
Blackrock Inc. clear longer bias with new weekly demand levels being created. Price has not pulled corrected for months hence no retracement to buy setups at weekly demand imbalances created around 526, 481 and 424 price areas respectively. Long term long bias at weekly and monthly demand zones with new demand imbalances being created and respected.