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The Blackstone Group L.P. Message Board

  • carolyn_novice carolyn_novice May 5, 2013 10:27 PM Flag

    Breakaway GAP BX @ 21.75

    After moving due to the following news:

    The Blackstone Group Investor Day At 8:00 AM ET
    5/3/2013 6:59:00 AM - RTT News

    Blackstone Fattens As Stocks, Real Estate Recover
    5/1/2013 3:18:00 PM - Investor's Business Daily

    Date : 4/15/2013
    Short interest = 9,793,906
    Average Daily volume = 4,290,692
    Days to Cover = 22.28

    BX created a Breakaway Gap.

    Date ------- Volume ------- High ------- Low ------- Close
    2-May ------- 47,562 ------- 21.10 ------- 20.39 ------- 20.78
    3-May ------- 91,073 ------- 21.98 ------- 21.17 ------- 21.75

    The breakaway gap follows the smaller breakout from the original trend.

    Definition of 'Breakaway Gap' :

    1. A term used in technical analysis. A breakaway gap represents a gap in the movement of a stock price supported by levels of high volume.

    2. If you chart it, the gap reflects a bullish movement when the price has gapped upwards and a bearish movement when the price has gapped downwards.

    Google Search 'Breakaway Gap'

    BX is expected to move into heavy resistance

    Price range
    21.75 – 22.00……Overhead Supply = 18,096,391
    22.00 – 22.25……Overhead Supply = 17,723,170

    If the volume remains very high, the task of overhead supply can be resolved by the institutions and short covering. If the volume once again moves low, then it is the same old story after the earning the stock may create a trading range.

    Most of the automatic investment of dividends sometime creates more demand or supply, which depends on the trend of the market.


    Carolyn Novice

    Sentiment: Buy

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