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Watch for BlackRock to Potentially Pullback After Gaining 1.14% Yesterday

By David Diaz

BlackRock (NYSE:BLK) traded in a range yesterday that spanned from a low of $421.96 to a high of $426.33. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $423.47 on volume of 165,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of BlackRock have traded between a low of $275.00 and a high of $426.33 and are now at $425.61, which is 55% 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 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 have risen 8.0%. We continue to monitor BLK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Blackrock

Ticker(s): BLK