BlackRock ($BLK): Eyeing $914–$874 for Reversal

Once again, our analysis has proven accurate. Following our initial call, BLK rallied by 15%, only to retrace by 12%, erasing nearly all gains from the past three months. This serves as a valuable reminder that protecting capital often outweighs chasing setups with lower conviction.

Currently, BLK is nearing the level we’ve been monitoring, with tomorrow’s earnings report adding some short-term uncertainty and excitement. Despite this, we believe the correction isn’t yet complete. It’s too early to place an order or even set a limit. We will wait for the earnings release and the subsequent market reaction to reassess the situation.

Our key focus remains on the $914–$874 zone, where we anticipate a potential reversal and the completion of wave (iv).

Once wave (iv) concludes, we expect BLK to aim for the previously highlighted targets in our October analysis: $1,057–$1,342. Based on the anticipated completion of wave (iv), the next target for the larger wave ((iii)) aligns with the $1,100–$1,243 range.