Tag Archives: BLK
SPY, MSFT, BLK
Got stopped out on Blackrock over the week, pretty bummed as I still think it has room to run with my bullish bias on the S&P.
Same for Microsoft. Lesson learned too aggressive on the stops. I’m looking to reenter MSFT at a break of $32. Looks like it is due for a breather, maybe even down to the $28 Jan breakout.
S&P broke resistance but still had a mediocre week. It is respecting the $135 support. I’m still very much bullish. Weekly Chart
2/29/12 Microsoft, Caterpillar, Blackrock, and Arch Capital
Microsoft looks beautiful still. Finding support at prior breakout. Recommended stops $31-$30.75.
Caterpillar lost some major support today. Look out below around $111 and $108. Should take action off of what the S&P does over next week.
Blackrock held support today after racing to touch resistance at $200. This could be a bearish signal. Watch out for $198 level support. Stops recommended at $195.
Arch Capital has gone sour and is looking more and more sick. Could be a good time to get short as it tests resistance. A break of this could restore some of my old faith.
Blackrock BLK
Blackrock got a nice breakout today over $197. Looks like its consolidating for the next leg up on the hourly to test 2011 highs of $200, provided the green dotted uptrend line holds. A breakout above here and we’ll be looking for test of $215 then $230 (2010 highs).
A look back on Blackrock BLK
Since July BLK has fallen through support and retested 2010 lows in October 2011. That would have called for a great buying opportunity because now price has returned back to 2010 highs. Ive been left holding the bag somewhat on this one due to the wild ride 2011 turned out to be. The retest of this highs seem strong this rally, we are up almost 2% after hours at $198. Look for a test of the 2010 highs of $215-$230 area.
Blackrock (BLK)
I like Blackrocks’ price action today. It broke the uptrend line built on the March 2009 low, following the August 2010 low of the year. Since then the bulls have stepped in taking the stock back above $180. Notice that the December 2010 highs and recent February 2011 highs creating a downward trend resistance line and a bullish wedge. Earnings for Blackrock are suppose to come out before the market Wednesday. Depending on the close of today being above $180.55 or better, look for an upside move to test the resistance around $195.
