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Blackstone announced a landmark $63 billion financing deal with Broadcom and a consortium of major banks. The stock edges higher on the day, trading at $119.06.
Blackstone announced a $63 billion financing deal involving Broadcom, Bank of America, Citi, and Morgan Stanley. The company operates in asset management and has a market value near $136.61 billion. Fifty of ninety-three analysts rate the stock a buy with a median price target about 15.9% higher than the current level.
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Price is sitting right at support from the prior weekly high at $118.74, which is a key pivot. Shares hold a split daily structure, trading below the MA-50 and MA-200 but above the MA-20. Stoch RSI is in overbought territory, a stretched reading that limits room for further upside.
To gauge whether the event is being priced in, traders should track price action at $118.74. Shares pushed through the weekly high at $118.74 and are now setting a new high for the week. The probability of further gains over the coming trading week is 36%, while the chance of a downside move is 64%, and the expected trading range is $113.56 to $124.55. Even so, this comes after a sustained move higher with a firm trend over the past week. A close above $125.04 would show buyers are willing to follow through, while a drop back below $118.74 would indicate the move is being faded. On the weekly chart the longer-term picture stays firmly negative.
Previously it was reported that Blackstone’s oversubscribed BX Energy Transition Partners V fund raised concerns over continued downside risk despite positive fundraising activity. The announcement of the $63 billion Broadcom financing adds a new dimension to Blackstone’s profile, with traders advised to monitor whether shares can sustain momentum above the key $118.74 pivot amid a still-negative longer-term outlook.