Can BLK Stock Reach $700?

Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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BlackRock has been increasing its earnings by 4.1% yearly on average, while the earnings of the Capital Markets industry grew by 15.5% annually, according to the financial website Simply Wall St. The company’s revenues have also been rising by 6.9% per year on average. BlackRock has a net margin of 29.9% and a return on equity of 13.5%.

BlackRock has a debt-to-equity ratio of 21.7%, which is calculated from its total shareholder equity of $39.1 Billion and total debt of $8.5 Billion, according to the Simply Wall St. The company’s total assets and total liabilities are $121.4 Billion and $82.3 Billion respectively. BlackRock’s EBIT is $6.1 Billion making its interest coverage ratio -108.9. It has cash and short-term investments of $5.5 Billion.

The market capitalization of BLK stock is $107.446 Billion and the total revenue is $17.616 Billion. Moreover, the stock’s basic EPS is $34.57 and the price-to-earnings ratio is 21.38. Moreover, the average volume is 605.683K and the current volume is 649.193K, the current volume is above average volume.

Moreover, the stock has done well in the last three months, increasing by 12.35% but it has plummeted by 4.34% in the last six months.  However, Blackrock Inc. (NYSE: BLK) stock has a negative year-to-date return of 0.36% and a positive 1-year return of 8.08%.

Technical Analysis of Blackrock Stock Price in 1-D Timeframe

The price action shows that Blackrock Inc’s ( NYSE: BLK) stock price has been on an inclining trend for the last month, increasing by 12.35%. At the time of writing, BLK stock is trading at $717.44 and has been trying to sustain the CMP level after taking a pullback. 

Therefore, if the BLK price fails to sustain the current level and drops, then it might hit the nearest support levels of $719 and $673.

However, if it maintains the current level, the BLK price could continue to move upwards and reach the first and second targets of $753.99 and $785.10. 

At the time of publishing, Blackrock Inc. (NYSE: BLK) is trading above the 50, 100, and 200-day EMAs (exponential moving averages), which are supporting the price trend. 

However, 20-day EMA is rejecting the trend if more selling volume adds up then the price might conquer supporting EMA’s by making lower highs and lows.

Hence, BLK price is expected to move upwards giving bearish views over the daily time frame chart.

The current value of RSI is 47.85 points. The 14 SMA is above the median line at 64.96 points which indicates that Blackrock stock is bearish as the RSI is in bearish territory.

The MACD line at 10.31 and signal line at 13.86 are above the zero line and both lines are closing in on each other. A bearish crossover is observed in the MACD oscillator which signals more bearishness for the BLK stock price.

Summary

Blackrock Inc. (NYSE: BLK) indicates that the investors and traders of the stock price are bearish on the 1-D time frame. The price action reflects a bearish outlook at the time of publishing. The technical oscillators of the BLK stock price also support the bearish trend. The MACD, RSI, and EMA are highlighting negative signals and imply that the downtrend may continue in BLK stock price.

Technical Levels

• The nearest support levels for Blackrock stock price are $719 and $673.
• The nearest resistance levels for Blackrock stock price are $753.99 and $785.10.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.