The Greedy Trader Weekly Analysis
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Yearly Price vs. Fibonacci:Near 61.8% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 9/13/2024 -
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BlackRock (BLK) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance lineBroken trend resistance line
Daily :The price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the BlackRock (BLK). During the week, the BLK gained 18.81 points, or 2.17%, and closed at 885.73 on Friday, September 13, 2024. Weekly volume was -35% below average.

BLK is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See BLK long-term trend chart]
A long-term downtrend had started on November 12, 2021 at 973.03 and reached 503.12 on October 13, 2022. BLK lost 469.91 points, or 48.29%, in 47 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (674.62) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See BLK medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 596.18 and reached 903.43 on August 30, 2024. BLK gained -307.25 points, or -51.54%, in 44 weeks. The chart has formed a Rectangle chart pattern. The uptrend resistance line (742.53) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See BLK weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since July 12, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See BLK short-term trend chart]
A short-term uptrend had started on June 11, 2024 at 752.30 and reached 903.43 on August 30, 2024. BLK gained -151.13 points, or -20.09%, in 80 days. The price is now at the 11.71% retracement level.

Daily Technical Indicators: [See BLK daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since September 4, 2024. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.68
Williams' Percentage Range (W%R) 30.80
Lane's Stochastic (%D-Slow) 54.35
Greed/Fear Indicator (GFI) 58.42
Moving Average Converg./Diverg. (MACD) 9.98
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.17
Williams' Percentage Range (W%R) 9.80
Strong Overbought
Lane's Stochastic (%D-Slow) 84.12
Overbought
Greed/Fear Indicator (GFI) 78.46
Moving Average Converg./Diverg. (MACD) 21.97
Trading Signals
Description Value Chart
Upper Bollinger Band 897.11
Weekly Stochastic Crossing 890.52
Price 885.73
20 Day Moving Average 879.78
Daily Stochastic Crossing 876.12
50 Day Moving Average 855.74
Lower Bollinger Band 855.19
Parabolic System 853.31
Monthly Trendline Resistance 812.52
Monthly Trendline Support 742.53
Sector and Industry
Description Name Rank
Sector Financials 9
Industry Asset Management & Custody Banks 57
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 752.30
Low Date 06/11/2024
High 903.43
High Date 08/30/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 745.55
Low Date 04/19/2024
High 903.43
High Date 08/30/2024
Description Value
Direction Up
Chart Pattern Rectangle
Status Broken Resistance
Resistance 812.52
Support 742.53
Low 596.18
Low Date 10/27/2023
High 903.43
High Date 08/30/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 503.12
Low Date 10/13/2022
High 903.43
High Date 08/30/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 441.90
Support 674.62
High 973.03
High Date 11/12/2021
Low 503.12
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.