BX (Blackstone Inc) Follows a Weaker-Than-Expected and "Disappointing" Price Path Ahead of This Week's Tariff Deadline

by Mike Paulenoff

March 30, 2025 • 12:12 PM EDT

At the beginning of last week, fellow members Rayray and GordonGekko asked for my technical setup work on BX (Blackstone Inc). This is what we discussed on the morning of March 25, 2025:

My attached Daily Chart shows the November 2024 to mid-March 2025 correction (-32%) followed by the recovery rally from 135.60 to 153.18. My pattern and momentum work argue that this upmove is NOT the initiation of a new upleg in BX's longer-term bull trend but instead is an intervening rally that will separate the Nov-Mar corrective decline from a second corrective downmove that will emerge after the current recovery rally runs its course. My preferred scenario indicates that anyone long or interested in getting long BX should treat the position as a "scalp trade" into my projected target zone from 161 to 169, after which, my pattern work expects the resumption of corrective weakness... Last is 149.98...

During the four trading sessions after my post to MPTrader members, BX climbed to a recovery rally high at 153.16 in the aftermath of its multi-month corrective low of 135.60 (down 33% from its 11/25/24 ATH at 200.96)... Continued below my Daily Chart...

Ahead of a pivot to the downside into a price nosedive last Thursday and Friday, BX had climbed 13% across a nine-session period from 3/13 to 3/25 but came up well short of my optimal rebound target zone of 161 to 169.

The disappointing rebound to 153.18, well beneath my anticipated minimum target of 161, was a tell-tale sign that the dominant trend remains down despite the larger, substantial 33% correction.

With the last trading day of March, the conclusion of Q1, and an index rebalancing event into Monday's close, followed by President Trump's Reciprocal Tariff Liberation Day on Wednesday, April 2, the upcoming three trading days will be replete with high drama and potentially violent price swings.

Although I cannot rule out some negotiated favorable tariff deals (unilateral lower or eliminated tariffs between the U.S. and certain countries) ahead of and into the April 2nd deadline that could reverse BX to the upside for another recovery rally attempt toward 161-169, my preferred technical scenario argues for downside continuation, especially into quarter-end on Monday.

With the foregoing in mind, any additional BX weakness needs to hold in and around 135-136 to avert downside continuation that projects next to an optimal target support window from 122 to 125, where the larger post-November 2024 correction will reach nearly 40% as the price structure approaches a full-fledged test of the major up trendline off of its December 2022 low (71.72).

Join MPTraders and me for a consequential upcoming week that concludes a tumultuous Q1 2025, sees the imposition of reciprocal tariffs (or not!), and culminates with a potentially market-moving Employment Report!

Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 7-day Trial!

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