May retest resistance area 108/109 before rejecting below current channel. Currently hitting on 21 MA with parabolic SAR indicator signaling down trend following Bearish Engulfing candlestick pattern (circled) on 1 hour chart. Showing weak volume.
Currently hitting resistance around the 152-price range on somewhat decent volume and also above the 21 MA. If breaks above, it will be on track to break out of the 3 month down-trend BUT there is a DEATH CROSS forming on the daily time frame with the 50/200 MA. Will watch tomorrow as the week ends and into next week to see if it will reject off the 0.2 fib level.
Looking to retest the $160 and below area. Spotted the same bearish candlestick that was spotted at the beginning of the head and shoulders pattern which pushed the price below the key support. Also broke the 50MA. Lots of put option contracts are being placed for the 160-strike price.
Going to the 5.60 range and probably down to 5.00. The supply and demand are being fixed. This has high growth potential and attraction lots of new attention.
Probably going to retest the one-month key support of the $167 range. Def. will increase my position if it retests $167. RSI showing the stock is heading to the oversold area which is good. Supply and Demand is being fixed. Wouldn't be surprised if it dips lower this year though, it's the year of corrections and consolidations for a lot of stocks. THOUGHTS?
Probably going to bounce at the $820 or $815 which has been a key support since MAY 21. MA Cross - 50MA moved below 200MA. Def. going to take advantage of the discounts on BLK this year. BLK is valued to exceed $1,000 on the high. THOUGHTS ?
BEARISH for the next few days but BULLISH Long-Term hold . Spotting divergence on RSi , MACD showing buyers weakening, hitting key 0.5 fib level on the daily downtrend. I believe it will come down a little and bounce on key support around 45.50. Fundamentals: Undervalued, pays good dividend 9.25%, earnings are forecasted to grow 5.22% per year.
