After completing a classic "bull flag" chart pattern this week, shares of Blackstone Group (BX) should be poised to experience much stronger gains in the weeks to come. With improving momentum characteristics and relative strength, along with a bullish moving average configuration, it appears that BX is resuming a primary uptrend phase. Blackstone first popped up on our radar back in July, when the stock completed an inverted head and shoulders bottoming pattern. Soon after, the price pushed back above the 200-day moving average, completing a clear bullish rotation. But starting in July, BX began a short-term downtrend formed by a parallel channel of lower highs and lower lows. This bull flag pattern can be considered completed only if the price pushes above the upper trendline resistance.

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