Bloom Select Income Fund Trust Forecast
Green day on Friday for Bloom Select Income Fund
(Updated on Jun 28, 2024)
The Bloom Select Income Fund trust price gained 0.268% on the last trading day (Friday, 28th Jun 2024), rising from $7.47 to $7.49. During the last trading day the trust fluctuated 0% from a day low at $7.49 to a day high of $7.49. The price has risen in 4 of the last 10 days and is up by 1.63% 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, 100 more shares were traded than the day before. In total, 100 shares were bought and sold for approximately $749.00 .
The trustis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $7.49 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Bloom Select Income Fund trust with a 90% probability to be traded between $7.22 and $7.44 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BLB-UN.TO Signals & Forecast
The Bloom Select Income Fund trust holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the trust has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $7.43 and $7.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 2.46%. 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). Bloom Select Income Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Monday, June 17, 2024 and based on theory for this formation the price should go up by 2.94% to $7.71 within 16 trading days since signal was issued (Wednesday, July 10, 2024).
Support, Risk & Stop-loss for Bloom Select Income Fund trust
Bloom Select Income Fund finds support from accumulated volume at $7.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0 between high and low, or 0%. For the last week the trust has had daily average volatility of 0%.
Our recommended stop-loss: $7.08 (-5.48%) (This trust has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (BLB-UN.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Bloom Select Income Fund to open at $7.49, and during the day (based on 14 day Average True Range), to move between $7.44 and $7.54, which gives a possible trading interval of +/-$0.0476 (+/-0.64%) up or down from last closing price. If Bloom Select Income Fund takes out the full calculated possible swing range there will be an estimated 1.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.48 (0.13%) than the resistance at $7.53 (0.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bloom Select Income Fund trust A Buy?
Bloom Select Income Fund holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Bloom Select Income Fund of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $7.49 ( 0.00000000%) | $7.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLB-UN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.49 | 0.00000000% |
| R2 | 7.49 | 0.00000000% |
| R1 | 7.49 | 0.00000000% |
| Price | 7.49 | |
| S1 | 7.49 | 0.00000000% |
| S2 | 7.49 | 0.00000000% |
| S3 | 7.49 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.63 | 1.87% |
| R2 | 7.61 | 1.60% |
| R1 | 7.53 | 0.534% |
| Price | 7.49 | |
| S1 | 7.48 | -0.134% |
| S2 | 7.39 | -1.34% |
| S3 | 7.31 | -2.40% |
FAQ
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