BlackRock: Current Trend To Continue
When we look at the BlackRock (NYSE:) chart, we can see its extended downward trend continue from last week, falling from the $750 range to the $730 and being unable to consolidate it fell lower to the $715. It fell even lower during yesterday’s session, closing the day in the $688 range where it was last found trading.
BlackRock had scheduled a yesterday. Earnings expectations were surpassed; however, it missed the Revenue estimates, resulting in the retraction during yesterday’s session.
Today we can expect a pattern continuation and a move towards and below the $688 closest temporary support level. If, however, it manages to hold on to the current level, then a move towards the $715 closest overhead resistance level can be expected.