The Greedy Trader Weekly Analysis
Sign In Mar 22, 2024
Skip Navigation Links
Number of records: 1
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Uptrend Support

Uptrend Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.

Uptrend Support

Archive
- 3/15/2024 -
Sign In to see current Signals.

BlackRock (BLK) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
Move cursor over the icon to see details.

It was the negative week for the BlackRock (BLK). During the week, the BLK dropped -33.60 points, or -4.02%, and closed at 802.52 on Friday, March 15, 2024. BLK was trading at average weekly trading volume.

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 (630.05) 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 845.00 on March 8, 2024. BLK gained -248.82 points, or -41.74%, in 19 weeks. The price is now at the 17.07% retracement level.

Weekly Technical Indicators: [See BLK weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See BLK short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 845.00 and reached 798.34 on March 15, 2024. BLK lost 46.66 points, or 5.52%, in 7 days. The price is now at the 8.96% retracement level.

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

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.22
Williams' Percentage Range (W%R) 75.60
Lane's Stochastic (%D-Slow) 39.86
Greed/Fear Indicator (GFI) 37.50
Moving Average Converg./Diverg. (MACD) 8.51
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.17
Bearish
Williams' Percentage Range (W%R) 17.40
Overbought
Lane's Stochastic (%D-Slow) 72.90
Bearish
Greed/Fear Indicator (GFI) 68.74
Moving Average Converg./Diverg. (MACD) 29.58 Bearish
Trading Signals
Description Value Chart
Parabolic System 843.94
Upper Bollinger Band 839.87
Weekly Stochastic Crossing 825.28
20 Day Moving Average 815.93
Daily Stochastic Crossing 814.77
Price 802.52
50 Day Moving Average 800.61
Lower Bollinger Band 788.88
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Asset Management & Custody Banks 41
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 845.00
High Date 03/08/2024
Low 798.34
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 765.63
Low Date 02/01/2024
High 845.00
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 596.18
Low Date 10/27/2023
High 845.00
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 503.12
Low Date 10/13/2022
High 845.00
High Date 03/08/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 535.28
Support 630.05
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.