BlackRock, Inc. (BLK) stock price surged in its latest intraday trading, succeeding in breaking above the key and psychological resistance level of $1,000. This resistance represents the ceiling of a positive technical pattern formed at the end of a short-term corrective bearish wave, represented by a double bottom, accompanied by a noticeable increase in trading volumesa technical signal confirming the validity of this breakout. The price is currently in contact with resistance at its 50-day SMA, as it attempts to overcome this negative pressure.

Therefore we expect the stock price to rise during its upcoming trading sessions, especially as long as it remains stable above $1,000, targeting the resistance level at $1,060 as a price target for the formed double bottom pattern.

Todays price forecast: Bullish