BX our Free Stock Pick for Wed Dec 22nd 2010
The Blackstone Group (BX), after a big price-volume surge in September and October, has consolidated in the last two months in the 13-14 trading range, which looks like it's ready to be broken. The stock jumped 52 cents today, or 3.83%, on heavy volume, closing near a multi-month high - at a key resistance level - which is another indication we could see further advance in this stock.
If a breakout occurs I expect to see BX in the 14.70-15.10 range short-term. Preferred entry (buy stop) price is 14.25, with a stop at 13.75. See our Trading Rules page for more detail.