Blackstone Stock Forecast
Stronger technical forecast for Blackstone stock price after Wednesday trading.
(Updated on Apr 17, 2024)
The Blackstone stock price gained 1.07% on the last trading day (Wednesday, 17th Apr 2024), rising from $121.88 to $123.19. During the last trading day the stock fluctuated 2.19% from a day low at $121.94 to a day high of $124.61. The price has risen in 6 of the last 10 days but is still down by -2.67% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $618.08 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $121.29 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.00% during the next 3 months and, with a 90% probability hold a price between $124.93 and $136.34 at the end of this 3-month period.
BX Signals & Forecast
The Blackstone stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $124.95 and $126.49. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.67%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Blackstone stock
Blackstone finds support from accumulated volume at $121.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.67 (2.19%) between high and low. For the last week, the stock has had daily average volatility of 3.01%.
Our recommended stop-loss: $116.19 (-5.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (BX) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect The Blackstone Group LP to open at $123.25, and during the day (based on 14 day Average True Range), to move between $119.72 and $126.66, which gives a possible trading interval of +/-$3.47 (+/-2.82%) up or down from last closing price. If The Blackstone Group LP takes out the full calculated possible swing range there will be an estimated 5.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $124.80 (1.31%) than the support at $121.25 (1.57%), 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.
Earnings coming up
Blackstone will release earnings BMO on Thursday, April 18, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.98. We will update the financials statements for Blackstone, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.13% in the first trading day after earnings release.
Is The Blackstone Group LP stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.027 Buy Candidate Upgraded
Predicted Opening Price for The Blackstone Group LP of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $123.25 ( 0.0460%) | $123.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 125.92 | 2.21 % | |
| R2 | 124.90 | 1.39 % | ||
| R1 | 124.27 | 0.87 % | ||
| Current price: | 123.19 | |||
| Support | S1 | 122.23 | -0.782 % | |
| S2 | 121.60 | -1.29 % | ||
| S3 | 120.58 | -2.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 124.97 | 1.44 % | |
| R2 | 124.95 | 1.43 % | ||
| R1 | 124.80 | 1.31 % | ||
| Current price | 123.19 | |||
| Support | S1 | 121.25 | -1.57% | |
| S2 | 120.63 | -2.08% | ||
| S3 | 119.08 | -3.34% |
BX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 02, 2024 | Feb 12, 2024 | $0.94 | 0.723% |
| 2 | Oct 27, 2023 | Oct 27, 2023 | Nov 06, 2023 | $0.80 | 0.81% |
| 3 | Jul 20, 2023 | Jul 31, 2023 | Aug 07, 2023 | $0.790 | 0.760% |
| 4 | Jul 20, 2023 | Jul 28, 2023 | Aug 07, 2023 | $0.790 | 0.760% |
| 5 | Apr 20, 2023 | Apr 28, 2023 | Aug 07, 2023 | $0.82 | 0.789% |
FAQ
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