BlackRock Resources Stock Forecast
BlackRock Resources stock upgraded from Buy Candidate to Strong Buy Candidate after Monday trading session.
(Updated on May 20, 2024)
The BlackRock Resources stock price gained 0.423% on the last trading day (Monday, 20th May 2024), rising from $9.45 to $9.49. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.85% from a day low at $9.44 to a day high of $9.52. The price has risen in 7 of the last 10 days and is up by 2.04% over the past 2 weeks. Volume fell on the last day by -18 thousand shares and in total, 242 thousand shares were bought and sold for approximately $2.30 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 lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.42 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.77% during the next 3 months and, with a 90% probability hold a price between $10.53 and $11.16 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BCX Signals & Forecast
Mostly positive signals in the chart today. The BlackRock Resources 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 $9.42 and $9.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 BlackRock Resources stock
On the downside, the stock finds support just below today's level from accumulated volume at $8.37 and $8.34. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, BlackRock Resources finds support just below today's level at $8.37. If this is broken, then the next support from accumulated volume will be at $8.34 and $8.31.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0800 between high and low, or 0.85%. For the last week the stock has had daily average volatility of 0.97%.
Our recommended stop-loss: $9.11 (-3.97%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (BCX) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect BlackRock Resources to open at $9.48, and during the day (based on 14 day Average True Range), to move between $9.38 and $9.60, which gives a possible trading interval of +/-$0.110 (+/-1.16%) up or down from last closing price. If BlackRock Resources takes out the full calculated possible swing range there will be an estimated 2.32% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $8.37, some $1.12 (11.80%) from the current price of $9.49, our system finds the risk reward attractive.
Is BlackRock Resources stock A Buy?
BlackRock Resources holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.123 Strong Buy Candidate Upgraded
Predicted Opening Price for BlackRock Resources of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $9.48 ( 0.0702%) | $9.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.56 | 0.773 % | |
| R2 | 9.53 | 0.451 % | ||
| R1 | 9.51 | 0.252 % | ||
| Current price: | 9.49 | |||
| Support | S1 | 9.45 | -0.392 % | |
| S2 | 9.43 | -0.591 % | ||
| S3 | 9.40 | -0.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 9.49 | |||
| Support | S1 | 8.37 | -11.80% | |
| S2 | 8.34 | -12.12% | ||
| S3 | 8.31 | -12.43% |
BCX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 31, 2024 | $0.0518 | 0.546% |
| 2 | Apr 01, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.0518 | 0.562% |
| 3 | Mar 01, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0518 | 0.570% |
| 4 | Feb 01, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.0518 | 0.623% |
| 5 | Jan 02, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.0518 | 0.608% |
FAQ
Click here for our free guide on how to buy BlackRock Resources Stock.
