Blackbaud Stock Forecast
Blackbaud stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 29, 2024)
The Blackbaud stock price gained 1.22% on the last trading day (Monday, 29th Apr 2024), rising from $77.95 to $78.90. During the last trading day the stock fluctuated 1.28% from a day low at $78.00 to a day high of $79.00. The price has fallen in 7 of the last 10 days and is down by -0.29% for this period. Volume fell on the last day by -47 thousand shares and in total, 91 thousand shares were bought and sold for approximately $7.18 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $79.19 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Blackbaud stock with a 90% probability to be traded between $67.65 and $79.39 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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BLKB Signals & Forecast
The Blackbaud 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 $78.26 and $74.44. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.354%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Blackbaud stock
Blackbaud finds support from accumulated volume at $75.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.00 between high and low, or 1.28%. For the last week, the stock has had daily average volatility of 2.22%.
Our recommended stop-loss: $76.25 (-3.35%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (BLKB) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Blackbaud to open at $78.63, and during the day (based on 14 day Average True Range), to move between $76.83 and $80.97, which gives a possible trading interval of +/-$2.07 (+/-2.62%) up or down from last closing price. If Blackbaud takes out the full calculated possible swing range there will be an estimated 5.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $79.13 (0.29%) than the support at $75.97 (3.71%), 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.
Earnings coming up
Blackbaud will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.85. We will update the financials statements for Blackbaud, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.40% in the first trading day after earnings release.
Is Blackbaud stock A Buy?
Blackbaud 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.240 Hold/Accumulate Upgraded
Predicted Opening Price for Blackbaud of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $78.63 ( 0.338%) | $78.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLKB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.63 | 0.93 % | |
| R2 | 79.25 | 0.445 % | ||
| R1 | 79.02 | 0.146 % | ||
| Current price: | 78.90 | |||
| Support | S1 | 78.25 | -0.82 % | |
| S2 | 78.02 | -1.12 % | ||
| S3 | 77.63 | -1.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 82.65 | 4.75 % | |
| R2 | 82.27 | 4.27 % | ||
| R1 | 79.13 | 0.292 % | ||
| Current price | 78.90 | |||
| Support | S1 | 75.97 | -3.71% | |
| S2 | 70.38 | -10.80% | ||
| S3 | 69.18 | -12.32% |
BLKB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 10, 2020 | Feb 27, 2020 | Mar 13, 2020 | $0.120 | 0.215% |
| 2 | Oct 28, 2019 | Nov 26, 2019 | Dec 13, 2019 | $0.120 | 0.153% |
| 3 | Jul 30, 2019 | Aug 27, 2019 | Sep 13, 2019 | $0.120 | 0.130% |
| 4 | Apr 30, 2019 | May 24, 2019 | Jun 14, 2019 | $0.120 | 0.151% |
| 5 | Feb 06, 2019 | Feb 26, 2019 | Mar 15, 2019 | $0.120 | 0.155% |
FAQ
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