BlackRock (BLK) offers a unique two-phase trading opportunity, leveraging its potential correction and subsequent recovery. Here’s a detailed action plan to profit from both phases with precision.
Action Plan:
Phase 1: Short the Correction 📉
Current technical patterns indicate a likely retracement from recent highs, driven by overextension and weakening momentum.
- Short Sell Entry Zone: $960–$980
- Stop Loss: $1,020
- Profit Targets for Short Sell:
- Target 1: $765
- Target 2: $623
- Target 3: $535
- Why Short?
BLK is approaching a critical resistance zone near $1,000, with a bearish divergence in momentum indicators. Fibonacci retracement levels and historical support align with the $623–$535 zone, presenting a compelling shorting opportunity.
Phase 2: Long the Rebound 📈
After the anticipated correction, BLK is expected to find strong support and initiate a recovery toward its previous highs.
- Buy Zone for Long Position: $525–$630
- Stop Loss: $490
- Profit Targets for Long:
- Take Profit 1: $765 ✅
- Take Profit 2: $880 🚀
- Take Profit 3: $1,000 🎯
- Why Buy?
BlackRock’s strong fundamentals, coupled with the technical rebound near key support zones, set the stage for a bullish recovery. The $525–$630 range has proven to be a critical support area in previous cycles, making it an ideal entry point for a long-term position.
Key Takeaways:
- Short-term Strategy: Capitalize on the potential decline by shorting BLK near $960, with targets as low as $535.
- Long-term Strategy: Enter the market at the rebound near $525 for significant upside toward $1,000.
- Always adhere to disciplined risk management, with clear stop-loss levels to mitigate potential losses.
Disclaimer
This post is for informational purposes only and does not constitute financial advice. Trading and investing carry risks, including the potential loss of capital. Always consult a licensed financial advisor before making any trading or investment decisions.
Position yourself for success in BlackRock’s correction and recovery. With a well-executed strategy, this two-phase approach offers substantial profit potential.