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Dec 12, 2014 (Moving average crossovers via COMTEX) -- Today, shares of Blackstone (NYSE:BX) have fallen below their 10-day MA of $33.50 on a volume of 2.2 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.Blackstone (NYSE:BX) has potential upside of 18.1% based on a current price of $32.83 and analysts' consensus price target of $38.77. The stock should discover initial support at its 200-day moving average (MA) of $32.22 and subsequent support at its 50-day MA of $31.44.
In the past 52 weeks, Blackstone share prices have been bracketed by a low of $26.56 and a high of $36.08 and are now at $32.83, 24% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.
The Blackstone Group LP is a global alternative asset manager and provider of financial advisory services. The firm's asset management businesses include the management of corporate private equity funds, real estate funds, mezzanine funds, proprietary hedge funds and closed-end mutual funds. Blackstone also provides M&A and reorganization advisory, as well as private placement services.
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