Buy signal, week 5
BlackRock stock dips 1.5% after 3 up weeks, but trend strength keeps rising
Our view last week
BlackRock closes the fourth week of its buy signal with another 3.3% gain, its fifth straight higher low on the daily bars: our BlackRock stock technical analysis confirms the first price target of our model has already been hit. The stock is hugging its highs though, with little room to run before the next historical resistance, while weekly volume starts to contract.
This week's summary
After 3 straight up weeks and the first price target already hit, BlackRock stock pulls back 1.5% this week. Our technical analysis shows ADX still climbing though, a sign the trend keeps gaining conviction while price digests its run near all-time highs. The trade sits at a 7.9% gain since entry, in week 5 of the buy signal.
IQS Phase
73
in tension
Signal Strength
35
medium · weak
Sizing
REDUCED
Ranking
#128 / 167
US stocks in progress
Trade P&L %
+7.87%
from signal to date, no stop loss
Rank position
ranks 128th among the 167 Longs already running for US stocks in our ranking, with a signal strength of 35 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly -1.17% · monthly +2.55%
BLK belongs to the financials sector (reference ETF XLF). The sector is classified in positive regime according to our weekly reading.
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