Today’s instrument is BlackRock Inc.‘s stock traded on the NYSE exchange under the ticker BLK.
When we look at the BLK‘s 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. During yesterday’s session, it fell even lower closing the day in the $688 range where it was last found trading.
BlackRock Inc. had scheduled a quarterly earnings announcement yesterday 13/04/2022. 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.