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Possible Bearish Inside Day Candle Pattern Detected for Blackrock Inc (NYSE:BLK)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Blackrock Inc (NYSE:BLK) based on the price action in the company's shares. Today's price range of $438.94 and $440.98 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Blackrock Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

BlackRock, Inc. provides diversified investment management services to institutional clients and to retail investors through various investment vehicles. The Company manages funds and also provides risk management services to fixed income institutional investors.

In the past 52 weeks, shares of Blackrock Inc have traded between a low of $360.79 and a high of $492.00 and are now at $439.27, which is 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has remained constant.

Blackrock Inc (NYSE:BLK) has potential upside of 38.3% based on a current price of $439.27 and analysts' consensus price target of $607.38. The stock should find resistance at its 50-day moving average (MA) of $444.09, as well as support at its 200-day MA of $433.83.

SmarTrend is monitoring the recent change of momentum in Blackrock Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Blackrock Inc in search of a potential trend change.

Keywords: bearish inside day candle blackrock inc

Ticker(s): BLK