Diamond TopThis is the chart we looked at for the earnings trades today, took a Jan 340/Feb 310 Put Diagonal for $1.00 (short term bearish trade)
BLQA trade ideas
BlackRock, Inc. (NYSE:BLK) About To Roll LowerLet's take a quick look at one of the leading investment management firms, BlackRock, Inc. (NYSE:BLK) and find the best place to trade it. Yesterday, the BlackRock (NYSE:BLK) stock had a key reversal day on the charts, even as the overall markets were flat. After the stock made a new all time high during the first minutes of trading, at $337.65, it then proceeded to sell off. The sell off lasted all day long, before catching a small bounce at the lows of $332.00
This kind of pattern and price action on the daily chart indicates one important thing, the extended move of BlackRock, Inc. (NYSE:BLK) might be over. Traders looking to go short this equity can do so at around $333.00 and placing Wednesday's high as a stop loss on a closing basis - which means if you short the stock and it goes above that previous high and closes above, you exit the position for a small loss. However, BlackRock, Inc. (NYSE:BLK) does have a move lower in the cards, and the ultimate profit target for those short the stock should be $314.00.
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Kiliam L.
Elite Round Table, Pro Trader
@KliiamLopez
www.inthemoneystocks.com
Blackrock (16.07.2014) Technical Analysis TrainingThe Blackrock (NYSE:BLK) Daily Diagram Technical Analysis Training shows the following:
The BLK share has made a long term consolidations in a symmetrical triangle from Feb 2014 (blue lines). Finally the share breaches the up side of the triangle and moved up. All this have happened above the KUMO, which means that the BLK is bullish in long term. The weekly diagram shows bullish trend. The monthly is overbought.
So the first think in mind is long for BLK but today (16.07.2014) MACD must give a long sign. The volume is moderate.
As it concern the candlestick pattern it shows a reversal hammer (like shooting star) but we have to wait the close hour. The share is above the KUMO and above the Kijun Sen (blue line) too. Today the share fight with the Tenkan Sen (light green line) support.
There is no special pattern.
If the share does not brake the TenKan Sen down and MACD gives a buy signal then more long movement is ahead. Otherwise we may have a correction to Kijun Sen Support at 319 for a the starting of a new uptrend.
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!
