BLAK34 trade ideas
BLKBecause we are only at the beginning, I advise you to put a stop at the maximum price of the previous day.
BLK MonthlyThere are quite a few Bearish Harmonic patterns on BLK's Monthly Chart. The more patterns the better the chance of it working out. I am overall Bullish on financials after the massive declines we saw in 08. BLK is a different story though. It has not only got back to where it was prior 08, but exceeded it. I firmly believe that as the market ticks higher we will finally see some rotation in stocks. From extreme winners over the past few years to some laggards. We are at the top of the Monthly Bullish Channel. Either we bust through it, or we decline and at least touch the midline of the channel. Happy Trading!
