Black Hills Corporation Stock Forecast
Black Hills Corporation stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Black Hills Corporation stock price gained 0.314% on the last trading day (Tuesday, 2nd Jul 2024), rising from $54.10 to $54.27. During the last trading day the stock fluctuated 1.10% from a day low at $53.98 to a day high of $54.57. The price has risen in 7 of the last 10 days and is up by 3.17% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 95 thousand more shares were traded than the day before. In total, 402 thousand shares were bought and sold for approximately $21.84 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Black Hills Corporation stock with a 90% probability to be traded between $52.31 and $57.65 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BKH Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 3.85%. 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 is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Black Hills Corporation 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 $54.63. On a fall, the stock will find some support from the short-term average at $54.02. 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.
Support, Risk & Stop-loss for Black Hills Corporation stock
Black Hills Corporation finds support from accumulated volume at $54.20 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 $0.595 (1.10%) between high and low. For the last week, the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: $51.81 (-4.53%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (BKH) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Black Hills Corporation to open at $54.27, and during the day (based on 14 day Average True Range), to move between $53.35 and $55.19, which gives a possible trading interval of +/-$0.92 (+/-1.69%) up or down from last closing price. If Black Hills Corporation takes out the full calculated possible swing range there will be an estimated 3.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $54.20 (0.13%) than the resistance at $54.38 (0.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Black Hills Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Black Hills Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.561 Buy Candidate Upgraded
Predicted Opening Price for Black Hills Corporation of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$54.27 ( 0.0031%) | $54.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKH
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 54.87 | 1.10% |
R2 | 54.64 | 0.681% |
R1 | 54.50 | 0.422% |
Price | 54.27 | |
S1 | 54.04 | -0.416% |
S2 | 53.90 | -0.674% |
S3 | 53.68 | -1.09% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 57.05 | 5.12% |
R2 | 54.90 | 1.16% |
R1 | 54.38 | 0.203% |
Price | 54.27 | |
S1 | 54.20 | -0.129% |
S2 | 53.10 | -2.16% |
S3 | 52.46 | -3.34% |
BKH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 22, 2024 | May 16, 2024 | Jun 01, 2024 | $0.650 | 1.15% |
2 | Jan 26, 2024 | Feb 15, 2024 | Mar 01, 2024 | $0.650 | 1.26% |
3 | Oct 23, 2023 | Nov 16, 2023 | Dec 01, 2023 | $0.625 | 1.17% |
4 | Jul 24, 2023 | Aug 17, 2023 | Sep 01, 2023 | $0.625 | 1.14% |
5 | Apr 24, 2023 | May 17, 2023 | Jun 01, 2023 | $0.625 | 1.03% |
FAQ
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