BlackRock Looks Solid Ahead of Earnings

The charts appear positive so far for BLK.
Stocks quotes in this article: JPM, BLK

Wednesday marks the beginning of earnings season, with JPMorgan Chase (JPM) , BlackRock (BLK)  and others. We looked at JPM the other day.

 
We looked at BLK on July 12, ahead of earnings, so let's do it again.
 
In this updated daily bar chart of BLK, below, we can see that prices just tested the rising 200-day moving average line. Prices are below the declining 50-day moving while the On-Balance-Volume (OBV) line has been steady the past two weeks. The Moving Average Convergence Divergence (MACD) oscillator is ready for a cover-shorts buy signal.
 
 
In this weekly Japanese candlestick chart of BLK, below, we don't see any top reversal patterns. The recent lower shadows at the intersection of the rising 40-week moving average line are a plus.
 
 
Bottom line strategy: I have no special knowledge of what BLK is going to report but the charts favor a positive reaction by traders.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Technical Analysis | Banking | Diversified Financials | Financial Services | Brokerages | Earnings Preview

More from Investing

There's No Reason to Bail on Cleveland-Cliffs: Here's When I'll Add Shares

Stephen Guilfoyle

I've been on the bandwagon for a short while now, producing income through the sales of related puts and calls.

Beyond Meat Gaps Lower and the Slide Is Probably Not Over

Bruce Kamich

Let's take a look at the charts and indicators.

Etsy Is Poised for an Upside Breakout

Bruce Kamich

Traders could add to longs on available weakness.

I've Rounded Out My Triple Net Active Portfolio With 4 New Names

Jonathan Heller

A somewhat eclectic group of stocks comprises this year's Active portfolio.

Roku Stock Is at an 'Interesting' Juncture

Bruce Kamich

There are certain price levels traders should be aware of.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight