During Thursday's "Mad Money" Lightning Round, a caller asked host Jim Cramer about The Blackstone Group (BX) .
"Blackstone is great. They are terrific," said Jim Cramer.
Let's check out the charts and technical indicators.
In this daily bar chart of BX, below, we can see that prices have been rising since early November and have hardly dipped or wavered. Prices are trading above the rising 50-day moving average line and above the rising 200-day moving average line. The trading volume has been steady and the On-Balance-Volume (OBV) line is positive until late June when it weakens even as prices move higher. This is a bearish divergence. The 12-day price momentum weakened in June, but surged to a new high in late July.
In this weekly Japanese candlestick chart of BX, below, we can see a bullish picture. Prices are in a strong uptrend above the rising 40-week moving average line. The weekly OBV line is super strong and confirms the price action. The MACD oscillator is also very bullish.
In this daily Point and Figure chart of BX, below, we can see that prices exceeded a $94 price target.
In this weekly close only five box reversal filter Point and Figure chart of BX, below, we can see a possible $153 price target.
Bottom line strategy: The charts and indicators for BX are bullish with a potential $153 price target. Trade BX from the long side risking to $102.
