Blackbaud Stock Forecast
Weaker technical forecast for Blackbaud as stock downgraded to Hold/Accumulate.
(Updated on May 06, 2024)
The Blackbaud stock price gained 1.45% on the last trading day (Monday, 6th May 2024), rising from $78.03 to $79.16. During the last trading day the stock fluctuated 1.22% from a day low at $78.41 to a day high of $79.37. The price has fallen in 6 of the last 10 days but is still up by 0.67% over the past 2 weeks. Volume fell on the last day by -90 thousand shares and in total, 184 thousand shares were bought and sold for approximately $14.60 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $80.08 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.22% during the next 3 months and, with a 90% probability hold a price between $77.96 and $86.66 at the end of this 3-month period.
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BLKB Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.0253%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Blackbaud stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $78.06 and $75.12. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Blackbaud stock
Blackbaud finds support from accumulated volume at $75.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.96 (1.22%) between high and low. For the last week, the stock has had daily average volatility of 2.25%.
Our recommended stop-loss: $76.43 (-3.45%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (BLKB) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Blackbaud to open at $78.98, and during the day (based on 14 day Average True Range), to move between $77.10 and $81.22, which gives a possible trading interval of +/-$2.06 (+/-2.60%) up or down from last closing price. If Blackbaud takes out the full calculated possible swing range there will be an estimated 5.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $79.18 (0.03%) than the support at $75.97 (4.03%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Blackbaud stock A Buy?
Blackbaud holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.604 Hold/Accumulate Downgraded
Predicted Opening Price for Blackbaud of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $78.98 ( 0.227%) | $79.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLKB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.94 | 0.99 % | |
| R2 | 79.57 | 0.522 % | ||
| R1 | 79.35 | 0.236 % | ||
| Current price: | 79.16 | |||
| Support | S1 | 78.61 | -0.691 % | |
| S2 | 78.39 | -0.98 % | ||
| S3 | 78.02 | -1.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 82.65 | 4.41 % | |
| R2 | 82.05 | 3.65 % | ||
| R1 | 79.18 | 0.0253 % | ||
| Current price | 79.16 | |||
| Support | S1 | 75.97 | -4.03% | |
| S2 | 70.38 | -11.09% | ||
| S3 | 69.18 | -12.61% |
BLKB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 10, 2020 | Feb 27, 2020 | Mar 13, 2020 | $0.120 | 0.215% |
| 2 | Oct 28, 2019 | Nov 26, 2019 | Dec 13, 2019 | $0.120 | 0.153% |
| 3 | Jul 30, 2019 | Aug 27, 2019 | Sep 13, 2019 | $0.120 | 0.130% |
| 4 | Apr 30, 2019 | May 24, 2019 | Jun 14, 2019 | $0.120 | 0.151% |
| 5 | Feb 06, 2019 | Feb 26, 2019 | Mar 15, 2019 | $0.120 | 0.155% |
FAQ
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