In a welcome move, BlackRock saw its Relative Strength Rating rise from 67 to 73 on Friday.
When To Sell Stocks To Lock In Profits And Minimize Losses
IBD's proprietary rating identifies share price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of above 80 in the early stages of their moves. See if BlackRock can continue to rebound and clear that threshold.
BlackRock broke out earlier, but has fallen back below the prior 1,171.89 entry from a flat base. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and buy point. Also keep in mind that the most recent pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 16%, compared to 15% in the prior report. Revenue increased from 12% to 13%. Keep an eye out for the company's next round of numbers on or around Oct. 14.
BlackRock earns the No. 6 rank among its peers in the Finance-Investment Management industry group. Acadian Asset Management, Sprott and Acorn Energy are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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