BlackRock Income Trust Inc (The) Stock Forecast
BlackRock Income Trust Inc (The) stock upgraded from Strong Sell Candidate to Sell Candidate after Monday trading session.
(Updated on Apr 15, 2024)
The BlackRock Income Trust Inc (The) stock price fell by -0.89% on the last day (Monday, 15th Apr 2024) from $11.28 to $11.18. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.17% from a day low at $11.13 to a day high of $11.26. The price has fallen in 8 of the last 10 days and is down by -5.37% for this period. Volume has increased on the last day by 24 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, 84 thousand shares were bought and sold for approximately $940.09 thousand.
The stock has broken the narrow and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($11.44) are considered to be a "second chance" to get out. According to the fan-theory $10.95 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
BKT Signals & Forecast
There are few to no technical positive signals at the moment. The BlackRock Income Trust Inc (The) 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 $11.49 and $11.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -7.83%. 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 Income Trust Inc (The) 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".
Support, Risk & Stop-loss for BlackRock Income Trust Inc (The) stock
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.
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 $0.130 between high and low, or 1.17%. For the last week the stock has had daily average volatility of 1.15%.
BlackRock Income Trust Inc (The) is oversold on RSI14 (15). 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 a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BKT) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect BlackRock Income Trust Inc (The) to open at $11.19, and during the day (based on 14 day Average True Range), to move between $11.07 and $11.29, which gives a possible trading interval of +/-$0.106 (+/-0.95%) up or down from last closing price. If BlackRock Income Trust Inc (The) takes out the full calculated possible swing range there will be an estimated 1.90% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $11.78, some $0.600 (5.37%) from the current price of $11.18, our system finds the risk reward not very attractive.
Is BlackRock Income Trust Inc (The) stock A Buy?
BlackRock Income Trust Inc (The) holds several negative signals and is within a narrow 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.771 Sell Candidate Upgraded
Predicted Opening Price for BlackRock Income Trust Inc (The) of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $11.19 ( 0.0897%) | $11.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.32 | 1.25 % | |
| R2 | 11.27 | 0.81 % | ||
| R1 | 11.24 | 0.534 % | ||
| Current price: | 11.18 | |||
| Support | S1 | 11.14 | -0.355 % | |
| S2 | 11.11 | -0.629 % | ||
| S3 | 11.06 | -1.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.85 | 5.99 % | |
| R2 | 11.83 | 5.81 % | ||
| R1 | 11.78 | 5.37 % | ||
| Current price | 11.18 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
BKT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.0882 | 0.788% |
| 2 | Mar 01, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0882 | 0.741% |
| 3 | Feb 14, 2024 | Feb 14, 2024 | Feb 14, 2024 | $0 | 0% |
| 4 | Jan 02, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.0882 | 0.725% |
| 5 | Dec 05, 2023 | Dec 14, 2023 | Dec 20, 2023 | $0.0882 | 0.727% |
FAQ
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