Tuesday, July 8, 2014

BlackRock, Inc. (NYSE: BLK)

BlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors. It also manages accounts for corporate, public, union and industry pension plans, insurance companies, third-party mutual funds, endowments, foundations, charities, corporations, official institutions, and banks. The firm also provides offers global risk management and advisory services. It manages separate client-focused equity, fixed income, and balanced portfolios. It invests in the public equity, fixed income, real estate, and alternative markets across the globe. The firm employs liquidity, asset allocation, balanced, real estate, and alternative strategies to make its investments. In real estate sector, the firm seeks to invest in Poland and Germany.
To review BlackRock’s stock, please take a look at the 1-year chart of BLK (BlackRock, Inc.) below with my added notations:
1-year chart of BLK (BlackRock, Inc.)
Like most stocks, BLK rallied into January of this year and has since struggled to move higher. Over the last 6 months, the stock had formed a key level of resistance at $320 (blue). That resistance was also a 52-week high resistance. Well, thanks to a nice market rally yesterday, BLK finally broke through to a new high.

The Tale of the Tape: BLK broke through its 52-week high resistance level. A long trade could be made on a pullback down to that prior $320 level with a stop placed below it.
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