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After Yesterday's Rally of 1.55% Shares Could Potentially Pullback

By David Diaz

Blackrock Inc (NYSE:BLK) traded in a range yesterday that spanned from a low of $470.39 to a high of $478.74. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $474.45 on volume of 171,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Blackrock Inc has traded in a range of $417.49 to $594.52 and is now at $476.67, 14% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Blackrock Inc on June 25th, 2018 by issuing a Downtrend alert when the shares were trading at $515.05. Since that call, shares of Blackrock Inc have fallen 8.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders blackrock inc

Ticker(s): BLK