Blackstone was upgraded this morning by WellsFargo to $60 price target with Outperform rating. This will probably get a nice bid today but I'd be cautious holding past this week IMO.
Goodluck
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Blackstone had huge insider selling on the 25th and is in a newly defined downtrend, plus it is overvalued.
Insider Selling:
Blackstone Holdings III L.P. 10% Owner Sep 20 Sale 32.75 $9,129,966 299,006,387 0 Sep 23 06:34 PM
Solotar Joan SMD, Head of Global PWS Sep 13 Sale 53.83 25,000 $1,345,750 235,803 Sep 13 06:57...
Since the previous high was about this point too, I'm convinced that with this bearish pattern at the same height we're about to drop.
My order is placed a little higher because I think we can get in with a better entry, the resistance on the left chart held on great and meets the resistance of the previous high.
Note that the horizontal lines are for my alarms,...
We have an ascending (double) channel on BX and may touche the dip soon on the 37$ support. At the same time we could see RSI bounce on the 30 support. Also after a small pullback MACD stays bullish over 0.
We have over 3.7 Risk/Reward. Also a partial take profit could be done on 38.6$ resistance.
Buy-in : 37$
SL : 35.7$
TP : 41.7$
Price has left support at $34-ish and heading for resistance at $37 so I’ll be watching for a possible retest of $34 support before breaking thru $37 resistance and continuing up.
TGE,BX: Blackstone
2019-01-31 06:45:00
Blackstone Infrastructure Partners Enters into Definitive Agreement to Acquire Controlling Interest in Tallgrass Energy
- Fee-related-Earnings to grow into 2020 (50%)
- Solid raising pipeline
-50B AuM in Insurance (0.2% market share). Although APO does have a largely insurance based portfolio, this is mostly captive, whereas BX may have more success by growing third party assets under management.
- Lift in KKR's valuation after going C-corp may lead to BX going C-corp in early...
BX broke out of consolidation and subsequently retest the support twice.
In addition to that, a Bullish pin bar has formed yesterday.
Price is expected to go into the green box. SL orders recommended to be below pin bar and support.
BX is approaching its support at 34.61 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce off from and to its resistance at 36.30 (61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 5% where a corresponding bounce could occur.
I'll be bullish with this stock on Monday only. Contingent on the close before end of day will determine if I exit out.
Please do not wait for me to update on whether to close or continue.
Please create your own TP and SL if you do not agree with mine.
The importance factor is the direction this pair is heading.
Use this as entertainment only
THE DAWN OF ASSET MANAGERS
As discussed towards the end of last year, 2018 should be the year of the brokers and asset managers (please watch related ideas below). In this context, and with a dividend yield of 6.36%, BX is probably one of the best asset management pure-plays out there. The trend has been strong on all time frames and the stock is attempting a...
Blackstone Group Inc., formerly The Blackstone Group L.P., is an alternative asset manager. The Company's alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment includes its corporate private equity business, which consists of its corporate private equity funds, Blackstone Capital Partners funds, its sector-focused corporate private equity funds, including its energy-focused funds, Blackstone Energy Partners funds and its core private equity fund. The Blackstone Real Estate Partners funds target a range of opportunistic real estate and real estate related investments. The Hedge Fund Solutions segment consists of Blackstone Alternative Asset Management. The Credit segment consists principally of GSO Capital Partners LP.
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