BlackRock Energy and Resources Trust Stock Forecast

BlackRock Energy and Resources Trust stock downgraded to Buy Candidate
(Updated on Apr 26, 2024)

BGR Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -1.91%. 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). BlackRock Energy and Resources Trust gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The BlackRock Energy and Resources Trust 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 $13.29 and $13.17. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Tuesday, November 28, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for BlackRock Energy and Resources Trust stock

BlackRock Energy and Resources Trust finds support from accumulated volume at $13.25 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 $0.0400 between high and low, or 0.299%. For the last week the stock has had daily average volatility of 1.08%.

Our recommended stop-loss: $12.92 (-3.39%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (BGR) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect BlackRock Energy and Resources Trust to open at $13.38, and during the day (based on 14 day Average True Range), to move between $13.20 and $13.54, which gives a possible trading interval of +/-$0.167 (+/-1.25%) up or down from last closing price. If BlackRock Energy and Resources Trust takes out the full calculated possible swing range there will be an estimated 2.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $13.44 (0.50%) than the support at $13.25 (0.90%), 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 Energy and Resources Trust stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BlackRock Energy and Resources Trust stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.309 Buy Candidate Downgraded

Predicted Opening Price for BlackRock Energy and Resources Trust of Monday, April 29, 2024

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