A technical analysis of BLACKSTONE INC.

Our stock screener has flagged BLACKSTONE INC (NYSE:BX) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:BX for potential movement.

What is the technical picture of NYSE:BX telling us.

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall BX gets a technical rating of 8 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• Looking at the yearly performance, BX did better than 81% of all other stocks. We also observe that the gains produced by BX over the past year are nicely spread over this period.
• BX is one of the better performing stocks in the Capital Markets industry, it outperforms 80% of 208 stocks in the same industry.
• BX is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BX is lagging the market slightly.
• Volume is considerably higher in the last couple of days.

Our latest full technical report of BX contains the most current technical analsysis.

Why is NYSE:BX a setup?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:BX is 9:

BX has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 125.83. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 124.96, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Of course, there are many ways to trade or not trade NYSE:BX and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.