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Blackrock Inc Set to Possibly Rebound After Yesterday's Selloff of 3.39%

By James Quinn

Blackrock Inc (NYSE:BLK) traded in a range yesterday that spanned from a low of $422.88 to a high of $431.77. Yesterday, the shares fell 3.4%, which took the trading range below the 3-day low of $432.14 on volume of 653,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Blackrock Inc has traded in a range of $317.60 to $442.83 and is now at $423.16, 33% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Blackrock Inc on April 26th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $389.50. Since that recommendation, shares of Blackrock Inc have risen 12.5%. We continue to monitor BLK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders blackrock inc

Ticker(s): BLK