Blackstone Stock Tests Key 145 Resistance Amid Mixed Technical Signals

Blackstone (BX) declined 0.33% in the latest trading session, closing at $143.57. This analysis employs multiple technical indicators to assess the stock's trajectory based on one year of historical price data.
Candlestick Theory
Recent price action shows a bullish engulfing pattern on June 24th (high: $144.45, low: $139.51) closing near session highs after a period of consolidation. Key support resides at $137.50, where multiple daily lows clustered between June 17-20, while resistance is evident near $145.00 – the March-April 2025 swing high. The failure to sustain gains above $144.50 in the latest session suggests near-term selling pressure at this technical barrier.
Moving Average Theory
The 50-day moving average (MA) currently hovers near $140.00, with the price trading above this level, indicating intermediate bullish momentum. However, the 100-day MA ($150.50) and 200-day MA ($155.80) remain overhead resistance. The persistent trading below these longer-term averages since late April confirms the primary downtrend, though the recent 50-day support hold suggests potential near-term stabilization.
MACD & KDJ Indicators
MACD (12,26,9) shows a bullish crossover emerging in late June after a prolonged negative histogram. This coincides with KDJ readings rebounding from oversold territory (K-line: 25 on June 18) to near 65 currently. While not overbought yet, KDJ’s ascent alongside improving MACD momentum suggests strengthening upside potential, though both oscillators remain below their midpoints, indicating fragility in the nascent recovery.
Bollinger Bands
The June price surge coincided with a volatility expansion as bands widened after a contraction period in early June. Current price trades near the upper band ($145.50), typically indicating stretched short-term conditions. A retreat toward the middle band ($139.80) would align with typical mean-reversion behavior, making consolidation likely before sustained breakout attempts.
Volume-Price Relationship
Bullish volume confirmation appeared during the June 24th rally (3.95M shares vs. 30-day avg ~3M), validating the breakout. However, the subsequent pullback occurred on below-average volume (1.91M shares), suggesting lack of conviction in the downside. Volume patterns overall support basing behavior rather than distribution.
Relative Strength Index (RSI)
The 14-day RSI rebounded from near-oversold levels (35 on June 18) to its current reading of 58. This neutral positioning leaves room for further upside before overbought territory (>70). Importantly, recent higher price lows diverged positively from RSI during June’s consolidation, hinting at underlying strength accumulation.
Fibonacci Retracement
Applying Fibonacci levels to the April-May 2025 decline (high: $152.04 to low: $120.22), key retracement resistance emerges at $136.10 (50%) and $141.90 (78.6%). Recent price action consolidated near the 50% level before testing the 78.6% resistance at $143-145. Failure to breach this zone sustainably may trigger pullbacks toward the 50% support confluence.
Confluence & Divergence Observations
Confluence exists at $139-141, where the 50-day MA, Bollinger middle band, and Fibonacci 61.8% level align. Bullish MACD/KDJ agreement supports near-term upside bias, though overhead resistance at $145 (Bollinger upper band and March swing high) caps advances. A critical divergence exists between RSI’s higher lows and price’s June double-bottom at $134 – a technically constructive sign. However, the long-term downtrend remains intact under key MAs, warranting caution until sustained breaks above $145 materialize.