- The BLK stock is facing a strong rejection near the price of $750.
- The BlackRock stock has declined by over 6% in a week.
- This company’s revenue has declined by over 12% in the last financial report.
Market Capital of Blackrock’s Stock – $96.557 Billion
The current market price of the stock – $646.72
The BlackRock Stock Overview
In the last trading session, Blackrock’s stock price declined by $0.83 with a fall of 1.65% intraday. The stock price has declined by over 6% in a week and 4% in a month, which indicates that the bears are dominating the price. Although the price has surged by 9.61% in a year. It indicates that the bulls have the upper hand in this stock over the longer time frame.
The company’s revenue has escalated significantly over the years. In 2016, the revenue of the company was $11.21 Billion which is now standing at $17.62 Billion. A rise of more than 57% in 6 years is pretty impressive. The net income of the company has surged from $3.17 Billion in 2016 to $5.18 Billion in 2022. A rise of over 63% in 6 years which is considered as a good growth.
The net debt of the company has risen massively in the last financial year. A net debt of $1.07 Billion was posted by the company in the last financial report. The company was in a net cash surplus in 2021. It has paid a dividend of $19.52 with a dividend yield of 2.75% which is adequate.
Technical Analysis of Blackrock’s Stock
The BLK stock price has been consolidating in a range between the level of $760 and $610. It has been trading in this range since November 2022. Apart from this demand and supply zone, the stock can face rejection from the level of $905-$920. If we talk about another support zone, the price can take support near the level of $500 which is marked as Support 2.
The price has recently broken the lower band of the Bollinger Band Indicator, which states that the price is facing strong selling pressure. The lower band of the indicator is present at $655 and the upper band is present at $717. If we observe the Relative Strength Index (RSI), it is now in an oversold trajectory and the stock can witness some upside from here.
Conclusion
The stock price has been trading flat since November last year and the reason could be poor financial report. The expectation for the current financial year report is better than the previous year and it can be reflected in the price as well. If the price breaks the upper resistance level of $763, it can try to achieve the level of $900. If the price breaks the level of $610, it can unlock the level of $500.
Technical level
Resistance – $760 and $905
Support – $610 and $500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.