Blackrock Enhanced Equity Dividend Trust Stock Forecast

Red day on Wednesday for Blackrock Enhanced Equity Dividend Trust
(Updated on Apr 24, 2024)

BDJ Signals & Forecast

There are few to no technical positive signals at the moment. The Blackrock Enhanced Equity Dividend Trust stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $8.10. On a fall, the stock will find some support from the short-term average at $7.94. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.248%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Blackrock Enhanced Equity Dividend Trust stock

Blackrock Enhanced Equity Dividend Trust finds support from accumulated volume at $7.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.0700 between high and low, or 0.87%. For the last week the stock has had daily average volatility of 0.92%.

Our recommended stop-loss: $7.78 (-3.19%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (BDJ) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Blackrock Enhanced Equity Dividend Trust to open at $8.05, and during the day (based on 14 day Average True Range), to move between $7.95 and $8.13, which gives a possible trading interval of +/-$0.0895 (+/-1.11%) up or down from last closing price. If Blackrock Enhanced Equity Dividend Trust takes out the full calculated possible swing range there will be an estimated 2.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.11 (0.87%) than the support at $7.92 (1.49%), 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 Blackrock Enhanced Equity Dividend Trust stock A Buy?

Blackrock Enhanced Equity Dividend Trust holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.079 Hold/Accumulate Unchanged

Predicted Opening Price for Blackrock Enhanced Equity Dividend Trust of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.