Wait for flag breakoutSee chart setup. Bullish flag, current support by 30's SMA. If the last daily high gets broken I expect another impulse move to the upside and also a break of the double-top to the upside. Looks bullish. Wait and see.
B2LN34 trade ideas
BlackLine's breakout: Stock trading idea for 6/03/2024Shares of the accounting software developer BlackLine will be included in the S&P SmallCap 600 index starting from the trading session on 18 March. This index comprises companies with modest market capitalisations of up to 3.6 billion USD. Inclusion in the index means that the stock will automatically be added to the investment portfolios of some exchange-traded funds (ETFs). This typically gives the stock a slight positive momentum at the start of trading on the index. Furthermore, the issuer demonstrates outstanding financial results.
Therefore, today, we turn our attention to the BlackLine, Inc. (BL) chart.
On the D1 timeframe, a resistance level was established at 65.64, while support shifted to 56.36. The breakthrough and consolidation above the 64.91 mark confirmed the quotes' exit from the channel, which formed in mid-April 2023. There is a probability that the securities will start a new medium-term uptrend.
On the H1 timeframe, long positions may be interesting once the level of 65.54 is broken through, with a short-term target of 77.87. A long position can be held up to 92.36 in the medium term.
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BL - Triple BottomA triple bottom pattern
Or you could consider it an inverse H&S but its too close for that in my liking
Possible reversal?
$BL Failed Breakout/Reset Setup$BL lower RS name @ 77 as its been going sideways for few months potentially putting final days in stage 1 phase.
Failed breakout/reset setup. They've been working for me.
BL - Bump and RunBump and Runs are considered in my eyes a neutral pattern once complete.
If you catch the bump expect a large run up, above the main trend line .
Following this expect the 'run' where price runs back to the major trend line in green.
BL - potential bullish H&S PatternIt is likey the low of 49.66 hit on 12 May is "the" low for now as we see a bullish pin bar has formed on the monthly chart on relatively high volume.
Now appears to be forming the right shoulder of a Head and Shoulders pattern with neckline around 78. A breakup of this neckline (preferably on relatively good volume) will likely mean the stock has turned the corner with a possible H&S target for around 106.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
BlackLine-Time to buyBlackLine holds its RSI support. Also, you can easily see that it has broken its RSI descending channel.
From the MACD point of view, it has a hidden divergence, as shown in the chart.
From an overall perspective, it is a golden time to buy BL!!
The target points are indicated in the charts.
BL 🌦Two fractals inside the running flat Elliot correction wave is enough for me to deduce that my pattern is on the right track. I Might buy some calls.
*** This is not financial advice, it is merely my opinion***
BL FORECAST I got the break of the low, (C) was lower than (A), This is what I look for before opening a position in calls. I believe Inflection points (A B C) reveal alot about the stock's behaviour.
BLACKLINE Publication Hey traders, BLACKLINE is in a very important moment in its history we can witness a new historical high. It's in a bearish fake setup with a hammer candle and a fake high volume traded sell. Looking at the TIMEFRAME M1 we see a dash with a low volume of chat performed, it goes towards the base of the bollinger. To check it and finish on the top of the consolidation zone to test it. Big potential to break out the price with the return of momemtum thereafter to the zone to join the second and make a new historical high. With the test of the bullish channel to move towards the top of the consolidation zone to check it with a symbolic number of 148.00.
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Price Prediction for $BLI'm thinking we will see BL trade sideways until earnings come... however, there seems to be turmoil in the market which can wreck any price pattern.
$BL gets a bullish outlook even after a negative earning.$BL is projected to have a bullish outlook even after a negative earnings release, with price currently trading close to the lower boundary of the PEAD cone.
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BlackLine $BL$BL shows bullish trend before the earning.
12 months Consensus Price Target: $76.75
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Please don't trade according to the ideas, rely on your own knowledge.
Thx
Interesting bullish engulfing candle on weeklyEarnings this past week and surely smoked the short on gap up after earnings. Probably the biggest short squeeze of the week. I don't have a position yet, but will be stalking it around the 54.13 pivot. Up on massive volume too, probably continue higher Mon/Tue and then looking to buy the dip.
Trending DownAll indicators are falling meanwhile. The only MA that has not been broken yet is the MA 14 whch may follow within the next few minutes.
Update: BL DailyBullish momentum has continued since last post. PMO continues to rise and has expanded over last two sessions. RSX has cooled off a little bit and turned upward again. I see two potential scenarios playing out here:
First, the market run continues and BL, without any resistance above, keeps closing the gap on its ATH of 58.15; a positive surprise on ER would probably launch into the 54-58 range. if this happens, the RSX will become severely overextended, and we would probably see another precipitous drop around the current ATH. Alternatively, BL pulls back to SMA200 and hovers around there (between 0.382 and 0.5 fib levels), consolidating in a lead-up to earnings. With positive ER, a golden cross would follow soon after and signal a renewed long-term uptrend.
Monday should give us a cue on which scenario will play out.
Disclaimer: This is only opinion. This is not investment advice. You are responsible for your own trades and conducting your own due diligence.
