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Watch for Blackstone to Potentially Pullback After Gaining 2.07% Yesterday

By Nick Russo

Blackstone (NYSE:BX) traded in a range yesterday that spanned from a low of $32.91 to a high of $33.41. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $33.08 on volume of 1.7 million 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 Blackstone have traded between a low of $22.31 and a high of $44.43 and are now at $33.28, which is 49% above that low price. The 200-day and 50-day moving averages have moved 0.95% lower and 0.29% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Blackstone on April 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.88. Since that recommendation, shares of Blackstone have risen 5.8%. We continue to monitor BX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Blackstone

Ticker(s): BX