Blackstone Shares Jump 3.19% to $183.92 on Heavy Volume as Rally Hits 6.21% in Two Days

Blackstone (BX) shares rose 3.19% to $183.92 in the latest session, extending a two-day rally totaling 6.21% amid significantly elevated trading volume. This surge positions the stock near multi-week highs and warrants technical examination across multiple frameworks to assess sustainability and potential resistance levels.
Candlestick Theory
Recent price action shows a robust bullish momentum with two consecutive long green candles closing near session highs, suggesting strong buying pressure. The September 8-11 period formed a Three White Soldiers pattern – a bullish signal following the August 22-23 consolidation. Key resistance emerges near $186.65 (September 11 high), while support rests at $178.23 (September 10 close). A sustained break above the $187 psychological level would confirm bullish continuation, whereas failure might see retracement to the $172-$175 consolidation zone established in early September.
Moving Average Theory
The 50-day MA ($168.50) maintains an upward trajectory above the 100-day MA ($158.20) and 200-day MA ($152.80), confirming the primary uptrend. Crucially, the current price holds 9% above the 50-day MA, indicating robust near-term momentum. The moving average stack (50>100>200) shows a "golden cross" configuration established in Q1 2025, which continues to provide dynamic support. This hierarchy suggests any pullback may find buying interest near the $172-$175 confluence (50-day MA and recent price base).
MACD & KDJ Indicators
The MACD histogram shows accelerating bullish momentum, with the signal line crossing above zero on September 10 – the first positive crossover since August’s rally. Simultaneously, the KDJ indicator exited oversold territory (<20) on September 5 and now approaches overbought levels (K:78, D:71, J:92). While this KDJ positioning suggests near-term exhaustion risk, the MACD’s positive trajectory implies any consolidation should remain shallow. Divergence emerges in the stochastic’s vertical ascent versus MACD’s moderate slope, warranting caution if volume diminishes during further advances.
Bollinger Bands
Bollinger Bands have expanded 18% from early September’s contraction, reflecting volatility breakout confirmation. Price currently rides the upper band ($183.20), typically unsustainable beyond 2-3 sessions historically. The bandwidth spike exceeds one standard deviation above its 30-day average, indicating stretched conditions. A mean-reversion toward the 20-day moving average ($176.40) appears probable unless volume surges beyond the $1.17B seen on September 11.
Volume-Price Relationship
The 6.21% two-day advance occurred on 139% of the 30-day average volume, validating the breakout. Notably, September 11’s volume ($1.18B) marked the highest since July 24’s rally. This volume profile suggests institutional participation. However, declining volume on continuation would signal weak conviction. Key volume support lies at the $800M level observed during August consolidation – violation would undermine the uptrend.
Relative Strength Index (RSI)
The 14-day RSI (68.5) approaches overbought territory but hasn’t breached the 70 warning threshold. Average gains have consistently outpaced losses over the period (1.24:1 ratio), supporting positive momentum. Historical reversals occurred at RSI 75-78 during July and August peaks, leaving marginal headroom before technical exhaustion. The current reading suggests the advance may persist briefly, though divergences against weakening oscillators could develop swiftly.
Fibonacci Retracement
Applying Fib levels between the June 20 low ($137.07) and recent September 11 high ($186.65) shows the current price consolidating near the 127.2% extension level ($183.80). This aligns with observed resistance. Key retracement support resides at the 61.8% level ($170.40), coinciding with the 50-day MA and August swing highs. The 161.8% extension ($196.30) offers the next major upside target, though overextension warnings from Bollinger Bands and RSI suggest consolidation may precede further advances.
Confluence analysis identifies the $178-$180 zone as critical support, merging the 50-day MA, Fib 50% retracement, and recent breakout level. Multiple indicators agree on overextended near-term conditions (Bollinger expansion, KDJ overbought warnings, RSI proximity to 70) but maintain positive structural bias (moving average stack, volume confirmation, MACD bullish crossover). Notable divergence appears between KDJ’s extreme positioning and MACD’s moderate momentum. Probability favors consolidation between $180-$186 before directional resolution, with volume sustainability being the decisive factor for continuation beyond recent highs.