If you are looking for a high-volatility stock with strong momentum and potential for further gains, you might want to check out BX, the ticker symbol for The Blackstone Group Inc., the alternative asset management and financial services company.
BX has been one of the best performers in our AI trading robot, accessible at “Swing trader: Top High-Volatility Stocks v.2 (TA)”, which uses technical analysis to identify and execute profitable trades in the stock market. Our robot has generated a 4.51% gain while trading BX over the course of the previous week, outperforming the S&P 500 index by 3.87%.
One of the indicators that our robot uses to assess the trend and momentum of a stock is the Moving Average Convergence Divergence (MACD), which is a difference between two exponential moving averages of the price. A positive MACD indicates that the short-term average is above the long-term average, signaling an upward trend. A negative MACD indicates the opposite, signaling a downward trend.
The MACD for BX turned positive on May 22, 2023, after being negative for most of May. This suggests that BX has reversed its previous downtrend and entered a new bullish phase. Looking at past instances where BX’s MACD turned positive, we found that the stock continued to rise in 37 of 47 cases over the following month, giving us a confidence level of 79% that BX will keep climbing higher.
Another factor that supports our bullish outlook on BX is its impressive earnings report on April 20, which showed earnings per share of 97 cents, beating the consensus estimate of 94 cents by 3%. This was a 44% increase from the same quarter last year, demonstrating strong growth and resilience amid the pandemic. With 453.43K shares outstanding, the current market capitalization sits at 64.61B, giving BX a price-to-earnings ratio of 37.1, which is high compared to its industry peers and its historical average.
Based on our technical analysis and fundamental evaluation, we believe that BX is a great candidate for swing trading, as it offers high volatility, strong momentum, and solid earnings potential. We recommend buying BX at the current price of $142.5 and setting a stop-loss at $130.0 to protect your capital in case of a reversal. Our target price is $160.0, which represents a 12.3% upside from the current level. This trade has a risk-reward ratio of 2:1, which is favorable for swing traders.
BX saw its Momentum Indicator move above the 0 level on August 25, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 78 similar instances where the indicator turned positive. In of the 78 cases, the stock moved higher in the following days. The odds of a move higher are at .
The Moving Average Convergence Divergence (MACD) for BX just turned positive on August 29, 2023. Looking at past instances where BX's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .
BX moved above its 50-day moving average on August 18, 2023 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BX advanced for three days, in of 378 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 357 cases where BX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 10 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 15 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
BX broke above its upper Bollinger Band on August 29, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 80, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. BX’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (12.034) is normal, around the industry mean (3.506). P/E Ratio (69.444) is within average values for comparable stocks, (31.388). Projected Growth (PEG Ratio) (2.616) is also within normal values, averaging (4.182). Dividend Yield (0.030) settles around the average of (0.071) among similar stocks. P/S Ratio (13.755) is also within normal values, averaging (77.931).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of investment and fund management services
A.I.dvisor indicates that over the last year, BX has been closely correlated with APO. These tickers have moved in lockstep 81% of the time. This A.I.-generated data suggests there is a high statistical probability that if BX jumps, then APO could also see price increases.