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The Blackstone Group - Barchart's Chart Of The Day

|Includes:The Blackstone Group L.P. (BX)

The Chart of the Day is The Blackstone Group (NYSE:BX). I found the stock by sorting the New High List for frequency in the last month, eliminated the stocks not having positive gains in the last week and month and reviewed the charts with the Flipchart feature. Since the Trend Spotter signaled a buy on 11/7 the stock gained 20.57%.

Blackstone is an investment and advisory firms. Their alternative asset management businesses include the management of corporate private equity funds, real estate funds, funds of hedge funds, credit-oriented funds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds. They also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 88% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 11.47% in the last month
  • Relative Strength Index 66.69%
  • Barchart computes a technical support level at 30.60
  • Recently traded at 31.48 with a 50 day moving average of 28.43


Fundamental factors:

 

  • Market Cap $14.74 billion
  • P/E 13.81
  • Dividend yield 2.87%
  • Revenue expected to grow 30.30% this year and another 19.80% next year
  • Earnings estimated to increase 33.30% this year, an additional 22.90% next year and continue to increase at a rate of 16.00% annually for the next 5 years
  • Wall Street analysts issued 4 strong buy, 10 buy and 2 hold recommendations
  • Financial Strength is B++


Strong momentum so use the 100 day moving average as a sign of weakness.

Stocks: BX