Technical Signals Point to a Possible Breakout for BLACKSTONE SECURED LENDING F.

Our stockscreener has identified a possible breakout setup on BLACKSTONE SECURED LENDING F (NYSE:BXSL). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:BXSL for potential opportunities.

Deciphering the Technical Picture of NYSE:BXSL

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Taking everything into account, BXSL scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, BXSL is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that BXSL is one of the better performing stocks in the market, outperforming 75% of all stocks. We also observe that the gains produced by BXSL over the past year are nicely spread over this period.
• BXSL is one of the better performing stocks in the Capital Markets industry, it outperforms 77% of 207 stocks in the same industry.
• BXSL is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month BXSL has a been trading in a tight range between 27.47 and 28.82.

Check the latest full technical report of BXSL for a complete technical analysis.

How does the Setup look for NYSE:BXSL

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:BXSL currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

BXSL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 28.56. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 28.26, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NYSE:BXSL

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

More breakout setups can be found in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.