Blackstone Rises 3.39% to $164.06 Amid Strong Bullish Momentum

Blackstone (BX) gained 3.39% in the most recent session, closing at $164.06 and marking its third consecutive day of gains with a cumulative 7.24% advance over this period. This price action occurred within a daily range of $158.69 to $164.23 amid elevated trading volume, suggesting strong bullish conviction.
Candlestick Theory
The three consecutive white candles demonstrate sustained buying pressure, with the July 10 session forming a long-bodied candle closing near its high. This pattern suggests bullish dominance, though proximity to the $164.23 resistance warrants monitoring for exhaustion. Immediate support resides near $158.69 (prior session low) and $156.35 (July 8 close), while a decisive break above $164.23 may target the year-to-date high of $175.05. The absence of clear reversal patterns implies near-term bullish continuity.
Moving Average Theory
Blackstone trades decisively above its key moving averages, with the 50-day (~$150), 100-day (~$144), and 200-day (~$140) all sloping upward. The current price sits approximately 9% above the 50-day MA, indicating robust short-term momentum. A bullish golden cross materialized in June 2025 as the 50-day MA crossed above the 200-day MA, reinforcing long-term trend strength. The ascending hierarchy of MAs (50 > 100 > 200) confirms a structured uptrend.
MACD & KDJ Indicators
The MACD (12,26,9) shows a bullish crossover, with the histogram expanding positively since July 1 – signaling accelerating upward momentum. Concurrently, the KDJ oscillator (14-period) reflects overbought conditions, with the %K line at 85 and %D at 82. While this KDJ alignment suggests extreme near-term bullishness, it elevates the probability of a technical pullback. The MACD’s trend confirmation and KDJ’s overbought reading create a divergence favoring caution.
Bollinger Bands
The bands expanded significantly during the three-day rally, reflecting surging volatility. Price currently breaches the upper band ($161), which typically denotes overextension. Historically, similar expansions (e.g., May 21 and April 9) preceded short-term consolidations. The middle band (20-day SMA near $155) offers dynamic support. A reversion toward this level would align with typical volatility mean-reversion behavior.
Volume-Price Relationship
Volume surged 48% during the rally, from 3.77 million shares on July 9 to 5.58 million on July 10, validating the breakout. This expansion exceeds the 20-day average volume of ~4.1 million, indicating strong institutional participation. The volume profile shows accumulation patterns at $152–$156 (July 6–8), providing foundational support. Declining volume on retracements would strengthen the uptrend’s credibility.
Relative Strength Index (RSI)
The 14-day RSI has spiked to 78, entering overbought territory. This reading exceeds the June peak of 73 and approaches February’s extreme of 83, which preceded a 12% correction. While RSI can remain elevated in strong trends, current levels imply limited near-term upside. A bearish divergence would manifest if price reaches new highs with weaker RSI intensity.
Fibonacci Retracement
Using the April 21 low ($120.22) and the February 6 high ($175.05), key Fibonacci levels emerge: 23.6% ($157.50), 38.2% ($153.80), and 50% ($151.80). The current price is testing the 23.6% resistance-turned-support level. A sustained break above $157.50 may catalyze momentum toward the 0% extension at $175. The 38.2% level ($153.80) aligns closely with the 50-day MA and July 8 low, establishing a high-probability support zone.
Confluence Points and Divergences
Confluence exists at $153.80–$155 (Fibonacci 38.2%, 50-day MA, and volume support), creating a robust technical floor. The $158.69–$164.23 range represents a critical resistance band requiring volume-backed confirmation for sustained upside. Divergences appear between momentum oscillators (RSI/KDJ signaling overbought) versus trend-following indicators (MACD/MA alignment) – a configuration that historically precedes consolidation. Probabilistically, a pullback toward $157–$158 may offer favorable risk/reward entries, whereas a weekly close above $164.23 would invalidate bearish divergences and target $170+. The core technical posture remains constructively bullish, though tactical overextension advises against chasing immediate upside.