Blackstone Shares Rise 1.52% As Technical Indicators Signal Bullish Momentum

Blackstone (BX) shares rose 1.52% in the most recent session, closing at $171.96, marking two consecutive days of gains totaling 3.16%. This upward momentum occurs within the context of a broader technical landscape, which we will analyze using multiple frameworks.
Candlestick Theory
Recent candlestick patterns reveal notable price action. The July 21 session printed a bearish inverted hammer (high: $170.14, close: $166.69), suggesting short-term exhaustion. However, this was invalidated by two robust white candles on July 22-23, with closes near session highs ($169.38 and $171.96, respectively), indicating strong buying pressure. Key resistance is observed at the July 17 peak of $173.15, while the July 22 low of $166.10 establishes immediate support. A decisive close above $173.15 would signal bullish continuation, whereas failure to hold $169.38 may indicate consolidation.
Moving Average Theory
The 50-day SMA (approximately $160), 100-day SMA (~$155), and 200-day SMA (~$150) display a bullish configuration, with the shorter averages above longer ones and price trading above all three. Recent closes above the 50-day SMA suggest sustained upward momentum. The ascending slope of the 200-day SMA confirms the primary uptrend, though the price remains 1.3% below the July 17 swing high of $173.79, warranting vigilance for potential resistance.
MACD & KDJ Indicators
The MACD (12,26,9) registers a bullish crossover, with the MACD line crossing above the signal line during the July 22-23 rally, suggesting accelerating upward momentum. Meanwhile, the KDJ oscillator shows the %K line (82) and %D line (78) in overbought territory, historically preceding minor pullbacks. This divergence—where MACD signals continued strength while KDJ warns of overextension—implies near-term consolidation risk despite the dominant uptrend. Traders may watch for KDJ bearish crossovers as early caution signals.
Bollinger Bands
Volatility expanded notably during the July 17 surge (6.6% range, volume 6.5M shares), with price testing the upper band ($173.15). The subsequent consolidation saw bands contract until the current rally pushed price to 97% of the 20-day band width. Current proximity to the upper band ($172.80 approximated) suggests limited near-term upside before mean reversion pressure emerges, though sustained closes above this level would indicate exceptional strength.
Volume-Price Relationship
Volume patterns validate recent gains. The July 17 breakout (3.96% rise) occurred on 6.5M shares—the third-highest volume in the dataset—signaling institutional participation. The subsequent pullback to $166.54 on July 21 saw volume decline 31%, suggesting weak conviction in downside moves. Current rallies show expanding volume (+7.5% July 22 vs July 21), confirming buyer commitment. However, the absence of climactic volume (>7M shares) suggests room for further accumulation before exhaustion.
Relative Strength Index
The 14-day RSI (68) approaches overbought territory but remains below the 70 threshold that historically triggered corrections. The indicator has rebounded from 42 on July 21, reflecting strengthening momentum. While the trajectory suggests potential further upside, its warning nature advises monitoring for bearish divergences. Notably, RSI failed to breach 75 during prior peaks (July and February), making 70-75 a critical resistance zone where profit-taking may accelerate.
Fibonacci Retracement
Applying Fibonacci to the recent swing low ($166.54 on July 21) and swing high ($173.79 on July 18) reveals significant levels. The 61.8% retracement at $171.16 was breached decisively during the current rally, while the session close at $171.96 approaches the 78.6% level ($172.44). This aligns with the $172.50 resistance identified in Bollinger Bands and candlestick analysis. A sustained break above $172.44 would target the $173.79 high, while the 50% retracement ($170.17) now serves as primary support, reinforced by the July 22 and July 17 lows.
Confluence and Divergence Notes
Confluence exists around the $172.50-$173.15 resistance zone (Bollinger, Fibonacci, and prior highs), making this a critical breakout area. Bearish divergence appears between KDJ's overbought signal and MACD's bullish crossover, suggesting potential short-term consolidation. Volume support and moving alignment favor upside continuation post-consolidation, though RSI and Bollinger bands imply near-term exhaustion risks. The critical technical event will be whether BX can close above $173.15 on elevated volume, which would trigger multi-indicator confirmation of a new uptrend leg.