At askSlim.com we are pure technical analysts – we let the “Charts” do the talking.
Our custom multiple-time-frame annotated charts deliver insights into directional bias, timing, and key price levels by utilizing our unique askSlim methodology that combines cycle analysis, momentum/trend studies, and swing high/swing low techniques.
This chart analysis of Blackrock Science & Tech (BSTZ) has been done per a request from one of our Level 4+ premium members. The information in this article is current as of 4/22/22.
On the weekly chart of BSTZ we see that, recently, a bearish engulfing flag has formed. Simultaneously, one of our proprietary momentum indicators, the Reversal Scout, is showing positive momentum.
Note that the previous intermediate-term cycle was strongly bearishly configured. Because of this, and the factors acknowledged above, we project that, in the current intermediate-term cycle, BSTZ will likely retest resistance levels.
If BSTZ were to trade below 26.5, a key support level, we would project further downward momentum. If it were to trade above 32, a key resistance level, we would project further upward momentum.
Some key weekly price levels to watch:
-BSTZ is early in the rising phase of the current cycle
-The next cycle bottom is expected between 8/29 – 10/14
–Major resistance levels are at 32 – 36.5
-The next major support is from 26.5-24
To learn more about the askSlim Method of performing Cycle Analysis, you can read our series, Introduction to Cycle Analysis.
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