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SmarTrend Watching for Potential Rebound in Shares of Blackrock Inc After 3.39% Loss

By Shiri Gupta

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.

In the past 52 weeks, Blackrock Inc share prices have been bracketed by a low of $317.60 and a high of $442.83 and are now at $423.16, 33% above that low price. 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