Blackstone Surges +3.1%, Eyes $170 Resistance After Breakout
$Blackstone Group LP(BX)$
Blackstone Inc.(BX) Surges +3.07%: Private Equity Giant Breaks Above $156, Momentum Accelerates Toward $170 Resistance
Latest Close Data
BX closed at $156.02 on December 10th, up +3.07% (+$4.65) from previous close of $151.37.
Stock is now 19.6% below its 52-week high of $194.00, showing strong recovery momentum from October lows.
Core Market Drivers
Blackstone benefits from renewed institutional appetite for alternative investments amid market volatility.
Strong capital flows data shows net inflow of $242.11M on Dec 8th after several days of outflows.
The company's diversified portfolio across real estate, private equity, and credit continues attracting institutional capital in uncertain macro environment.
Technical Analysis
Volume spiked 2.06x average with 6.54M shares traded, confirming breakout validity.
RSI(6) at 84.8 indicates strong momentum but approaching overbought territory.
MACD shows bullish convergence with DIF at 0.637 crossing above DEA at -1.436, generating fresh buy signal. The 4.21% daily amplitude suggests healthy volatility expansion.
Key Price Levels
Primary Support: $138.64 (previous consolidation base)
Strong Resistance: $169.44 (near-term technical ceiling)
Immediate Pivot: $151.52 (today's low, now support)
Valuation Perspective
Current P/E TTM of 44.84x appears elevated but reflects premium valuation for alternative asset management.
P/S ratio of 9.43x is justified by sector-leading ROE of 26.46% and ROA of 12.12%. Forward P/E of 28.34x suggests earnings growth acceleration.
Analyst Targets
20 analysts maintain coverage with average target of $178.49 (14.4% upside).
Distribution: 4 Strong Buy, 10 Buy, 10 Hold ratings. Consensus range spans $150-$215, indicating broad bullish sentiment despite premium valuation.
Weekly Outlook
Expect continued upside momentum toward $169.44 resistance if volume sustains.
Break above $170 could target $180-$185 zone. Key support remains at $151-$153 range. Watch for RSI cooling from overbought levels before next leg higher.
Risk Disclaimer
This analysis is for informational purposes only and does not constitute investment advice. Past performance does not guarantee future results. Please consult with a qualified financial advisor before making investment decisions.
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