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Possible Bearish Inside Day Candle Pattern Detected for Blackrock Inc (NYSE:BLK)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Blackrock Inc (NYSE:BLK) based on the price action in the company's shares. Yesterday's price range of $421.12 and $449.48 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Blackrock Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

BlackRock, Inc. provides investment management services to institutional clients and to retail investors through various investment vehicles. The Company manages funds, as well as offers risk management services. BlackRock serves governments, companies, and foundations worldwide.

In the past 52 weeks, shares of Blackrock Inc have traded between a low of $323.98 and a high of $576.81 and closed yesterday at $434.34, which is 34% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 2.4%.

Potential upside of 39.8% exists for Blackrock Inc, based on a current level of $434.34 and analysts' average consensus price target of $607.38. The stock should find initial resistance at its 200-day moving average (MA) of $469.95 and further resistance at its 50-day MA of $490.26.

SmarTrend is monitoring the recent change of momentum in Blackrock Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Blackrock Inc in search of a potential trend change.

Keywords: bearish am inside day candle blackrock inc

Ticker(s): BLK