BlackRock shares rise the most in one week, company to lead the next round of funding for iCapital Network

The S&P 500-featured BlackRock Inc announced yesterday that it intended to lead the next round of funding for iCapital Network. The financial technology startup grants access for individual investors to private equity funds, hedge funds as well as other alternative investments. The NYSE-listed investment management company, however, did not reveal the terms of the agreement, the investment rounds scale and the startups valuation. Credit Suisse Group AG has also been among former investors in iCapital Network.

BlackRock shares registered their largest daily gain since December 8th on Thursday, rebounding after a moderate drop during the previous trading session. The stock went up 0.96% ($3.75) to $393.75, with the daily high and the daily low being at $394.56 and $388.93 respectively. On December 14th BlackRock touched an all-time high of $396.91 per share. In the week ended on December 11th the companys shares gained 4.63% compared to a week ago to mark their best performance since the week ended on November 13th. The stock has extended its advance to 6.19% so far during the current month, after climbing 8.66% in November. The latter has been the stock’s best performance since March this year. Back then BlackRock shares appreciated 9.17%.

It became clear that Frank Porcelli, the Chairman of BlackRocks Wealth Advisory unit, will also have a seat on the iCapital board.

According to BlackRock, its platform is currently used by approximately 3 000 investors.

In 2015 BlackRock acquired FutureAdvisor, a robo-adviser overseeing individual investors savings. The company has also been actively expanding its team of developers engaged with maintenance and enhancement of its Aladdin investment management operating system.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the BlackRock stock are presented as follows:

R1 – $394.29
R2 – $394.83
R3 (Range Resistance – Sell) – $395.37
R4 (Long Breakout) – $397.00
R5 (Breakout Target 1) – $398.88
R6 (Breakout Target 2) – $399.71

S1 – $393.21
S2 – $392.67
S3 (Range Support – Buy) – $392.13
S4 (Short Breakout) – $390.51
S5 (Breakout Target 1) – $388.62
S6 (Breakout Target 2) – $387.79

By using the traditional method of calculation, the weekly levels of importance for BlackRock Inc (BLK) are presented as follows:

Central Pivot Point – $384.00
R1 – $396.59
R2 – $404.65
R3 – $417.24
R4 – $429.84

S1 – $375.94
S2 – $363.35
S3 – $355.29
S4 – $347.24