BlackRock, Inc. (BLK)

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Our View

Blackrock is one of the largest asset management companies in the world. It has close to $7.4 billion in assets under management, the highest in the world. It has scale, brand, and a vast network to compete effectively and continue growing its business. Blackrock also happens to be one of the biggest names in the passive and index-investing segments. Passive investing is currently the biggest theme in asset management and its further growth can be a tailwind for Blackrock over the medium to long term.

A look at the monthly long-term chart shows that the stock has been in a steady long-term uptrend over the past decade. More recently, BLK had fallen about 16% in February and March of 2020. However, after touching the bottom of the long term trend, the price in April 2020 has bounced back by about 13% from its monthly low.

Going forward, the first expected target price would be the most recent resistance level, shown by the red dotted line, at 532. The next target would then be the top of the long-term trend at 660.

Position taken at $470.80 with stop loss 24% below at $354.86. A good long-term stock. Short term profits could be taken at $660 giving short term profits of 40.2 %.