Blackstone Rises 4% to $172.49 on Heavy Volume as Bullish Momentum Builds

Blackstone (BX) advanced 3.96% to $172.49 in the latest session, marking its second consecutive gain with a cumulative 7.94% rise over this period. Volume expanded significantly to 6.49 million shares, reinforcing conviction in the upward move. The price action shows decisive bullish momentum as BX challenges its yearly high.
Candlestick Theory
Recent sessions formed two substantial bullish candles with minimal upper wicks, reflecting strong buying pressure and rejection of lower prices. Resistance is evident near $173.15 (July 17 high), while immediate support rests at $165.51 (July 17 low). A confirmed break above $173.15 would signal continuation potential, whereas the 2025 peak at $200.96 remains longer-term resistance.
Moving Average Theory
The 50-day SMA ($155.80) maintains a bullish crossover above both the 100-day ($150.20) and 200-day ($145.40) averages. Current price positioning above all three key SMAs confirms a robust uptrend, with the ascending 200-day SMA providing foundational support. Golden cross configuration persists, suggesting sustained bullish momentum.
MACD & KDJ Indicators
MACD (12,26,9) shows the histogram rebounding above its signal line after a brief convergence, reigniting bullish momentum. KDJ oscillators remain elevated with K-line (89) and D-line (82) in overbought territory, signaling stretched conditions but reflecting strong directional momentum. While this suggests near-term consolidation risk, no bearish crossover is evident.
Bollinger Bands
Price penetrated the upper Bollinger Band ($168.50) during the latest session, typically indicating overextension. However, concurrently expanding bands (20-day SMA: $165.80, width +25% week-over-week) signal increasing volatility favoring trend continuation. Sustained closes above $170 would reinforce bullish volatility expansion.
Volume-Price Relationship
Volume surged 43% week-over-week as price rallied, confirming bullish conviction. The latest session’s volume (6.49M shares) exceeded the 50-day average by 35%, validating breakout credibility. Notable accumulation occurred near $162 support in the prior session, establishing a volume-based demand zone.
Relative Strength Index (RSI)
The 14-day RSI (75) resides above the overbought threshold (70) after accelerating from 55 last week. This warns of potential consolidation, though its vertical ascent aligns with strong trend momentum. Historical data shows RSI can remain elevated during powerful rallies, necessitating confirmation from other indicators before reversal assumptions.
Fibonacci Retracement
Applying Fibonacci to the June 25 low ($143.57) and July 17 high ($173.15) reveals critical levels: 23.6% ($166.20), 38.2% ($162.80), and 50% ($160.36). The price respected the 38.2% support during July’s consolidation, establishing this as a key level. Current rally targets the 127.2% extension near $180.
Confluence & Divergence Observations
Bullish confluence appears at $165.50-$166.20, merging Bollinger Band support, Fibonacci 23.6% retracement, and volume-based demand. KDJ’s overbought reading diverges slightly from MACD’s strengthening momentum, though neither shows bearish crossover. RSI divergence is absent due to synchronous price-RSI ascent. The golden cross alignment with volume accumulation provides high-confidence trend validation. Near-term caution stems from Bollinger Band breach and RSI elevation, warranting monitoring for consolidation above $168.50. Overall technical structure remains robustly bullish with $180 as the next significant resistance.