This morning BLK attracted buyers around $202 at the lower level of a well established uptrending range. The lower level of the trading range also coincides with the 20-day moving average ($202.64), which adds validity to support around that area on the chart.
In addition, the 5-, 10-, and 20-day moving averages area trading positive to each other, as shown on the chart below. These indicators all support the thesis that BLK will trade higher in the near term.
Note that the upper end of the trading range lies somewhere around the $213-$215 area. That would take the stock above its 52-week high of $209.37.
(Chart courtesy of tradeMONSTER)
