BlackRock Inc Stock Forecast
Weaker technical forecast for BlackRock Inc as stock downgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The BlackRock Inc stock price fell by -1.30% on the last day (Tuesday, 25th Jun 2024) from 747.50€ to 737.80€. During the last trading day the stock fluctuated 1.07% from a day low at 737.70€ to a day high of 745.60€. The price has risen in 7 of the last 10 days and is up by 4.4% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -134 shares and in total, 259 shares were bought and sold for approximately 191.09€ thousand.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 747.19€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.53% during the next 3 months and, with a 90% probability hold a price between 671.51€ and 728.30€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BLQA.F Signals & Forecast
The BlackRock Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 730.07€ and 725.70€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -1.30%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
A buy signal from a double bottom formation was found on Thursday, May 30, 2024 and based on theory for this formation the price should go up by 6.40% to 785.01€ within 28 trading days since signal was issued (Tuesday, July 09, 2024).
Support, Risk & Stop-loss for BlackRock Inc stock
BlackRock Inc finds support from accumulated volume at 729.10€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 7.90€ between high and low, or 1.07%. For the last week the stock has had daily average volatility of 1.19%
Our recommended stop-loss: 709.68€ (-3.81%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (BLQA.F) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect BlackRock Inc to open at 740.37€, and during the day (based on 14 day Average True Range), to move between 727.42€ and 748.18€, which gives a possible trading interval of +/-10.38€ (+/-1.41%) up or down from last closing price. If BlackRock Inc takes out the full calculated possible swing range there will be an estimated 2.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 737.90€ (0.01%) than the support at 729.10€ (1.18%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is BlackRock Inc stock A Buy?
BlackRock Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.203 Hold/Accumulate Downgraded
Predicted Opening Price for BlackRock Inc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| 740.37€ ( 0.348%) | 737.80€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLQA.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 748.27 | 1.42% |
| R2 | 745.25 | 1.01% |
| R1 | 743.38 | 0.757% |
| Price | 737.80 | |
| S1 | 737.35 | -0.0611% |
| S2 | 735.48 | -0.314% |
| S3 | 732.47 | -0.723% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 741.00 | 0.434% |
| R2 | 740.60 | 0.380% |
| R1 | 737.90 | 0.0136% |
| Price | 737.80 | |
| S1 | 729.10 | -1.18% |
| S2 | 729.00 | -1.19% |
| S3 | 717.10 | -2.81% |
BLQA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 24, 2024 | 4.69€ | 0% |
| 2 | Mar 06, 2024 | Mar 06, 2024 | Mar 22, 2024 | 4.66€ | 0% |
| 3 | Dec 06, 2023 | Dec 06, 2023 | Dec 22, 2023 | 4.65€ | 0% |
| 4 | Sep 07, 2023 | Sep 07, 2023 | Sep 07, 2023 | 5.00€ | 0% |
| 5 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | 5.00€ | 0% |
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