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Top Financial Asset Manager Forms High Tight Bull Flag

by | Dec 8, 2024

Blackrock (BLK) shares of the top asset manager are showing continued relative strength and has formed a solid bull flag the past month above the 1000 key level as it looks to breakout from here into year end above 1050. The stock is clearly higher priced but one of the best financial stocks in the market this year and simply thinking of it as a $100 stock likely going to $120 is the same percentage move as $1000 to $1200. BLK has seen January $1020 and $960 puts sold to open the past month, showing confidence in this area being a floor into January and is often a highly correlated stock to the SPX index overall.

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