Evaluation of Black Hills Corporation stock downgraded after the last trading session.
(Updated on September 28, 2021)
Sell candidate since 2021-09-28 PDF
The Black Hills Corporation stock price fell by -1.50% on the last day (Tuesday, 28th Sep 2021) from $63.23 to $62.28. During the day the stock fluctuated 2.47% from a day low at $61.95 to a day high of $63.48. The price has fallen in 9 of the last 10 days and is down by -8.05% for this period. Volume has increased on the last day by 14 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 260 thousand shares were bought and sold for approximately $16.17 million.
Given the current horizontal trend, you can expect Black Hills Corporation stock with a 90% probability to be traded between $62.37 and $72.73 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.
Signals & Forecast
There are few to no technical positive signals at the moment. The Black Hills Corporation stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $63.42 and $68.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, August 20, 2021, and so far it has fallen -14.20%. 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
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.53 between high and low, or 2.47%. For the last week, the stock has had a daily average volatility of 2.00%.
Black Hills Corporation is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Black Hills Corporation stock A Buy?
Black Hills Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.967
Predicted Opening Price for Black Hills Corporation of Wednesday, September 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price September 29, 2021||Current price|
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On September 22, 2021 "Mizuho" gave "$60.00 - $67.00" rating for BKH. The price target was changed from $64.04 to 0.7%.
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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