Seems to me that BLK is settling into a consolidation period as the last of the hot money and overcooked expectations leave the building. Technically in this case on the daily chart it is still in an uptrend as evidenced by higher swing lows and highs as can be seen by the rising trend line as well.
Looking at the price action horizontally I have added a Fib retracement overlay for the major up leg which kicked off in mid January as the reference low point. It can be seen that the SP has retraced a couple of times in April and found support at the -50% retrace level around 6.8 cents but also ran into resistance (supply) at the -38.2% level around 7.7 cents and failed to sustain a breakout at this level twice.
If the current retrace gains traction the potential options seem to be either trend line support at around 7 cents or horizontal support at the -50% level or 6.8 cents. A break northwards to find support rather than resistance at 7.7 cents would be quite significant and potentially very bulllish I would imagine.
Daily
BLK Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
