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

By David Diaz

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. Yesterday's price range of $429.63 and $433.06 is within the prior day'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.

Blackrock Inc share prices have moved between a 52-week high of $487.45 and a 52-week low of $360.79 and closed yesterday at 20% above that low price at $434.21 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.4%.

Blackrock Inc (NYSE:BLK) has potential upside of 39.9% based on a current price of $434.21 and analysts' consensus price target of $607.38. The stock should find resistance at its 200-day moving average (MA) of $438.05, as well as support at its 50-day MA of $427.59.

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 am inside day candle blackrock inc

Ticker(s): BLK