Blackstone Stock Plunges 3.69% To $178.08 Amid Bearish Technical Breakdown

Blackstone (BX) declined by 3.69% to close at $178.08 in the latest session, marking its fourth consecutive daily loss and resulting in a cumulative decline of 5.62% over this period. This analysis evaluates the stock’s technical position across multiple frameworks.
Candlestick Theory
Recent sessions show a sustained bearish pattern, with four consecutive red candles culminating in a decisive breakout below the $183-$185 support zone (tested on September 22-23). The September 24 candle closed near its low of $177.19 after rejecting a rally to $186.1, forming a long upper wick that signals persistent selling pressure. The breakdown invalidates the September 10-18 rally and establishes new resistance near $183-185. Immediate support emerges near $174.56 (September 10 low), with a breach potentially targeting $170.
Moving Average Theory
The 50-day moving average (~$182) crossed below the 100-day moving average (~$175) in late September, confirming a bearish "death cross" formation. The current price trades below all key moving averages (50-day, 100-day, and 200-day), with the 200-day MA anchoring near $160. The descending order of these averages—price below 50-DMA < 100-DMA < 200-DMA—signals entrenched bearish momentum. A sustained recovery would require reclaiming the 50-DMA.
MACD & KDJ Indicators
The MACD histogram remains in negative territory, with both the MACD line and signal line trending below zero since early September. This reflects persistent bearish momentum without divergence. Meanwhile, the KDJ oscillator shows the %K and %D lines in oversold territory (<20), though no bullish crossover has materialized. This divergence—oversold KDJ but no corresponding MACD reversal signal—suggests capitulation may be underway, but trend confirmation remains absent.
Bollinger Bands
Price volatility expanded sharply as Blackstone broke below the lower Bollinger Band (~$182) on September 24. This deviation from the 20-day moving average band typically signals oversold conditions. However, the absence of an immediate recoil back within the bands—coupled with the lower band expanding downward—implies sustained bearish pressure. A mean-reversion bounce toward the $182 midline is plausible, but only a close above it would signal stabilization.
Volume-Price Relationship
Notably high volume accompanied the breakdown: The 3.83 million shares traded on September 24 exceeded the 20-day average and marked the second-highest volume since September 11. This distribution pattern validates the breakdown. Conversely, the September 18 rally to $190.08 occurred on elevated volume (4.4 million shares), turning this level into a high-volume resistance zone. Sustained selling pressure is evident, with no accumulation patterns detected.
Relative Strength Index (RSI)
The 14-day RSI reads 28, technically oversold (<30). However, it has held below 40 throughout September’s downtrend, indicating persistent bearish momentum. Historically, RSI divergences (e.g., higher lows during price declines) have been absent. While oversold conditions may invite short-term bounces, RSI alone lacks reversal credibility without corroboration from volume or candlestick patterns.
Fibonacci Retracement
Using the September 10 low ($174.56) and September 18 high ($190.08) as anchor points:
- 38.2% retracement at $183.9 (recent resistance)
- 61.8% retracement at $179.8
The price closed below the 61.8% level ($179.8), invalidating the prior uptrend and opening a path toward the 100% extension at $174.56. Confluence exists here as this level aligns with the September 10 swing low and psychological support at $175. A breakdown below $174.5 may target the 127.2% extension near $170.
Synthesis
Confluence is evident in the bearish bias:
- Price below all key MAs and Bollinger Bands
- MACD momentum confirming downtrend
- Volume validating breakdowns
- Fibonacci levels acting as resistance
Significant divergences are limited, though the deeply oversold KDJ and RSI readings conflict with MACD’s lack of reversal signals. Probabilistically, the $174.5-$175 zone offers critical support—a bounce here could trigger short covering, but failure may accelerate declines toward $170. Any recovery requires reconquering $182 (50-DMA and Bollinger midline).