Blackstone Rallies 6.15% in Four Days as Technical Indicators Signal Bullish Momentum

Blackstone (BX) concluded the latest session with a 4.14% gain, marking its fourth consecutive daily advance for a cumulative 6.15% rally. This analysis evaluates the stock’s technical posture across multiple frameworks.
Candlestick Theory
Recent price action demonstrates sustained bullish momentum. The four-day ascent features consecutive higher closes and long-bodied candles, culminating in a robust white candle on June 24th that closed near its high (144.04 vs. intraday high of 144.45). This pattern suggests strong accumulation. Immediate resistance is now established at 144.45, while the June 23rd low of 133.84 serves as critical near-term support. A prior gap between June 20th (high: 139.08) and June 23rd (low: 133.84) may now act as a supportive zone.
Moving Average Theory
The short-term moving average structure favors upside continuation. The current price (144.04) trades above both the 50-day (~139) and 100-day (~141) averages, confirming bullish near-term momentum. However, the 200-day SMA (~148) lingers above the price, signaling enduring intermediate-term resistance. A bullish crossover appears likely if the 50-day SMA converges toward the 100-day SMA, which would reinforce a strengthening trend.
MACD & KDJ Indicators
MACD exhibits a strengthening bullish cycle, with its histogram expanding positively and the signal line maintaining an upward trajectory. KDJ oscillators (K:88, D:83, J:98) reside in overbought territory, reflecting the recent acceleration. While this suggests near-term exhaustion risk, the absence of bearish divergence implies the uptrend may extend before a material pullback. Traders should monitor for KDJ curve flattening as a warning.
Bollinger Bands
A pronounced bandwidth expansion occurred during the four-day rally, indicating surging volatility. The June 24th close breached the upper Bollinger Band (~141), historically signaling overextended conditions. However, such breakouts can persist during strong momentum phases. The bands’ expansion after a period of contraction (notably around June 18th–20th) supports the breakout’s validity. Reversion toward the midline (~138) would offer a potential pullback target.
Volume-Price Relationship
Volume patterns validate the bullish move. Total volume for the four-day rally (12.26 million shares) exceeded the prior four sessions’ total (11.07 million), confirming buyer conviction. The June 24th session recorded the highest single-day volume (3.13 million) during this advance, further endorsing the breakout. However, volume remains below spikes seen during historic reversals (e.g., 11.5 million shares on April 9th), tempering expectations for parabolic upside.
Relative Strength Index (RSI)
The 14-day RSI has surged to ~75, entering overbought territory. While this cautions against immediate new longs, it does not inherently negate the uptrend. RSI readings above 70 can persist during powerful rallies, as evidenced by April’s surge where RSI held above 70 for multiple sessions. Bearish divergence would require a lower high in price against a lower high in RSI—a development not yet observed.
Fibonacci Retracement
Applying Fibonacci levels to the downtrend from March’s peak (~163) to April’s trough (~115) reveals critical thresholds. The 38.2% retracement (138.8) was decisively breached during the current rally, while the 50% level (142.9) now provides immediate support-turned-resistance after the June 24th close marginally above it. The 61.8% retracement (147) aligns with the 200-day SMA, creating a major confluence resistance zone overhead.
Confluence & Divergence Observations
Confluence appears strongest at 138–140, where the 38.2% Fibonacci, prior price gaps, the 100-day SMA, and Bollinger midline intersect. This zone should offer robust support on pullbacks. The clearest divergence exists between overbought oscillators (RSI, KDJ) and sustained price momentum—a condition that typically precedes consolidation but not necessarily reversal. The alignment of MACD’s bullish signal with volume-backed price gains underscores near-term strength, though RSI and Bollinger readings warrant caution at current levels.