It's a black week for BlackRock. BLKMore bearish signals for BlackRock. We believe we are to initiate another fall on this one in the very near future. Like most equities right now, this one is dropping also.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
BLK
BLK BLACKCOIN USD : MULTI YEAR FALLING WEDGE 200x TARGET $3.5BLACKCOIN BLK has been consolidating for years since its major run back in 2017-2018. The correction is almost over there may be a wick or two down but I believe we should be headed up fairly soon. This along with many other coins/ projects are in the same position now, that had their major run in 2017/2018 and consolidated for the last few years because of how fast they went up and now are primed and ready for their next move up. BLACKCOIN is one of those projects that took off and had a massive % run up and now its correction is over. My target is in the $3.50 USD range in the next run up. I have done many other chart analysis on other projects that I believe are sleepers, check them out. BLACKCOIN as well as the others I am doing charts on still have a very active team and Twitter. they haven't stopped working all these years while the price consolidates and redistributes. Plus BLK has been around since 2014 and has proven the test of time. Also with the new executive order on Crypto, they are going to attack Proof Of Work for environmental reasons, and Blackcoin as well as many others are Pure Proof Of Stake or similar. I am loading up on all these because the reward to risk ratio really good at these prices. BLK is at almost its original start price, the bottom is definitely in. This is not financial advice this is just my opinion and what I am doing. If you find this content useful then please leave me a like and follow for more updates and analysis. Thank you
BTC trying to bounce back but a hurricane set to cool optimismINVESTMENT CONTEXT
While OPEC+ agreed to boost crude oil production in the coming months, in a gesture of reconciliation to the U.S., it still remains unclear whether Saudi Arabia, the cartel's largest producer, will agree to further isolate economically Russia
BlackRock's CEO, Larry Fink, sees inflation to remain high for "years" due to the persisting effects of supply shocks
After raising interest rates on April 29, the Fed is now about to kick-off the plan to shrink its USD 8.9tn balance sheet
U.S. corporate profits fell the most in two years in Q1 2022; in the past year, earnings at 620 companies (of the 3,000 listed entities) fell short of interest payments — well above pre-pandemic 2019 levels
President Volodymyr Zelensky said Russian forces have seized a fifth of Ukraine, as the war passed the 100-day milestone
Russia missed a USD 1.9mln payment, inching closer to a default that would trigger billions of CDS insurance contracts
PROFZERO'S TAKE
In a rollercoaster trading day, equities shook off pre-market losses to close deep into green territory. Traders are mildly attempting to restore risk-on attitude, even in the wake of Microsoft (MSFT) lowering fourth-quarter guidance for both revenue and earnings, citing unfavorable foreign exchange rates. ProfZero maintains its cool aplomb: while welcoming the prospective second straight green weekly candle, the overarching narrative still hasn't found sufficient grounding for a rebound to be called - war in Ukraine still has no clearly defined endgame, China has but started softly lifting COVID restrictions and this week showed inflation in Europe has not peaked yet. Hot summer ahead? Cruel summer, rather
ProfZero is awaiting today's nonfarm payrolls and unemployment rate data to see whether the real economy is keeping the upbeat tone much needed to absorb inflation; earlier indications point to slowing hiring activity coupled with companies vying for talent, even at considerably heftier wages. As shared on Step99 podcast on June 2, ProfZero reminds that the inflation equation simply can't be escaped: it's going to be paid either by companies in case they'll opt to internalize higher costs (including salaries), or by households through higher retail prices (United Nations, U.N., food price index surged 73.9% in May 2022 as compared to 2020)
On June 2 Italy's natural gas distributor Snam announced it took over a 5-bcm strong regasification vessel from Golar LNG, as attempts to diversify energy supply in Europe gather pace. Other than the cost of energy itself, ProfZero is attentively looking at the freight market as a new source of possible bottlenecks: while pipelines from Russia allowed for seamless, low-cost primary transportation, the construction of brand-new seaborne supply chains will shift much market power into the hands of traders (Trafigura, Gunvor) and logistics middlemen. Speak of inflation - think of trading routes and supply-chain nodes, and you'll see who's behind it
BTC testing again the high USD 30k bracket - or simply draining liquidity from altcoins?
PROFONE's TAKE
Following yesterday’s thoughts on lithium, ProfOne’s sees the very same pressures on nickel. The price of the metal used in stainless steel and electric-vehicle batteries gained more than 50% since the beginning of 2022, including a one-day market rout on March 8 that sent prices up 250% intraday, and had the London Metals Exchange shut trading to contain credit risk . Some stainless steel factories in Europe already had to cut production (Acerinox) on stable supply concerns. Countries are looking for ways to substitute supplies from Russia, which produces a fifth of the world’s purest-grade nickel. Thus again on de-globalization talks: around 80% of the world’s nickel processing is based in China and 60% of the world’s nickel mines are Chinese owned. ProfZero and ProfOne are starting to wonder what actually was on the agenda at Davos just 10 days ago...
BlackRock Inc (BLK) on a key support level zone. BlackRock Inc. is the world’s top asset management firm, with around $9.5 trillion in total assets under management. The company is incredibly broad, serving institutional and retail clients and serving as a leading provider of both active and passive investing vehicles. The company reported Q4 2021 results on January 14th, slightly beating expectations for EPS but missing on revenue. This was the 10th consecutive quarter for which BLK exceeded expected EPS. During the Covid-19 crisis, even the Fed trusted BlackRock Inc. to manage its funds. Currently, the shares are trading at 32.3 below the fair value, with forecast to grow 7.82% per year and pay a reliable dividend of 2.78%. The experts' consensus 12-month price forecasts for BlackRock Inc have a median target of 874.00, with a high estimate of 972.00 and a low estimate of 720.00. The median estimate represents a +24.58% increase from the last price of 701.56.
Looking at the technical picture on a weekly chart, the price stop at the key support level of 50% Fibo correction level taken from the lowest price level reached in March 2020 and almost touched the 200-EMA. Looking at our oscillator indicators, we see that the price is in an oversold zone according to RSI and MACD. It is important to notice that if the price closes around that levels this week, it will form convergence.
If the price starts to grow, it is possible for and test to reach 61.8Fibo level around $740.00 per share, and the bulls may decide to take a break after testing that zone, thereby allowing the rate to correct lower. However, if they are willing to recharge, the investors would expect the forthcoming positive wave to overcome the new high at the $973.00 zone.
To start examining the bearish case, the traders would like to see a breakthrough at the key support level around the $663.00.
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$BLK BlackRock Key Levels, Analysis, & Targets$BLK Key Levels, Analysis, & Targets
This one is going to be fun for me… for so many reasons…
Swing setup
1 at 710
1 at 668
2 at 580
4 at 537
8 at 470
(Then multiply by your multiplier (x5, x10, x100, x1000, etc to find your position size)
Looking for 22% if 1,2 and 3 hit. If it gets to 4 - 24%, if it gets to 5 - 28%
Not all targets may hit but these are the ONLY levels I’m looking at…
As each target hits, set your buy order for the next one.
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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
BlackRock losing a few rocks. blKYeah, so we are shorting this bitch.
Goals 706, 681. Invalidation at 1032.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
cDon't listen to all the pundits when they tell you the market is strong. If you had to borrow money every year to keep up your lifestyle and pay off those debts with larger debts, would you say your personal economy is strong? No. That's exactly what the government has done for decades and the chickens are coming home to roost. The SPX (S&P 500) has been phantom collapsing since August 2021 but it's hidden by the larger weighted stocks. It's possible we see a quick rally before a huge sell-off, but I wouldn't place that bet. There are good companies that are down dramatically. Even Chipotle (CMG) is down 31% in the last 6 months which is a crash! Here are some more: Clorox (CLX) down 28%, BlackRock (BLK) down 28%, Paypal (PYPL) down 69%, Penn National Gaming (PENN) down 50%, Paycom (PAYC) down 39% and so many more.
The first area to break we need to be watching is the 3,700 level. The next is the 3,500-3,250 then the where there is a possible area of large support off the old pre-pandemic highs. Our average sell-off yellow bar is 3,000 - 2,800 as a very fair level of support. That isn't to say we can't have a 50% collapse or more, but this is a great starting point to average out and see where this may end. If we see banks folding, WW3, or anything along those lines, expect massive moves to the downside and then incredible inflation (FED money supply growth).
BlackRock coming to Light. BLKWe are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
BlackRock - Momentum Below Trend - DailyYear-End rebalance has been an arduous process.
Many Funds have been paring back to increase Cash Positions.
The slow bleed has been as Bonds catch the usual closing Bids
on rebalancing.
Diversification matters, given the concentration of 711s - it will
be interesting to see where Cash held at Close ends.
Demand for Corporates is muted, while $95 to $100 Billion
lurches from Equities into the Bond ETF Swamp.
Typically a 1 to 1.5% decline from the Highs can be anticipated
and we have seen this.
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Into yesterday's NYSE Close and Globex relatively small waves of
Selling produced a small move lower into the lower range, making
a lower low for the TF.
The VIX has 20.60 as the Over / Under, well above.
We had an Hourly Trend Change, we will see IF it was another well
arranged trap or there is further Selling on increased Volumes.
10 MA EST has been the Sell for the majority of the Week, with an
8 day run of muted Distribution, Price has ranged for a New ATH for
the ES to the lower Hourly Range Break.
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Should be volatile and interesting.
Expecting a 15% movement on BLK Today, we will share a bullish perspective we have on Black Rock
- The main structure we are observing is an ascending channel
- Inside the ascending channel, we can see a flag pattern above a support zone
- We saw a breakout of the Flag pattern and a secondary corrective structure above it
- Now, we are waiting for a breakout above the green line to confirm the expected movement
- If that happens, we will trade towards the higher trendline of the ascending channel
- Our Stop loss will be located below the support zone
- The resolution of this setup can last 30 to 45 days
- The risk we will take is 1% of our Capital
- The risk-reward ratio we are looking for is 1.5
Thanks for reading!
Blackrock ShortI have highlighted the XLF representing the broader financial sector in purple and the S&P 500 index in gray. As you can see it has outperformed the financial sector by a longshot and outperformed the S&P 500 index.
Since Blackrock’s bread and butter is asset management with nearly 8 trillion AUM, the overall concern with overvaluations in the markets combined with BLK’s significant outperformance to its peers and to the broader market in which it invests; I’d say it is time for a pullback.
I would expect it to correct to its previous highs as seen with the green line. I do not expect it to head down towards the XLF, but it is possible it could correct all the way to where the S&P is. It is trading at about 21x earnings.
Covergage initiated on GS/JPM/C/BLK/BX/MURGFBuy these heavy weights old names before it gets too late. It is a China play. The wind seems to be changing in their big favors.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.