BlackRock New Jersey Municipal Income Stock Forecast
Stronger technical forecast for BlackRock New Jersey Municipal Income stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The BlackRock New Jersey Municipal Income stock price gained 0.312% on the last trading day (Tuesday, 25th Jun 2024), rising from $16.01 to $16.06. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.58% from a day low at $15.81 to a day high of $16.06. The price has risen in 6 of the last 10 days and is up by 1.26% 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, 7 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately $225.40 thousand.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $16.07 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect BlackRock New Jersey Municipal Income stock with a 90% probability to be traded between $14.95 and $15.79 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. 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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BNJ Signals & Forecast
The BlackRock New Jersey Municipal Income 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 $15.89 and $15.82. A breakdown below any of these levels will issue sell signals. BlackRock New Jersey Municipal Income 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. Higher liquidity also reduces the general risk. 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 Thursday, June 13, 2024, and so far it has fallen -0.248%. 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). The stock had a Golden Star Signal on Thursday, May 02, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, May 02, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for BlackRock New Jersey Municipal Income stock
BlackRock New Jersey Municipal Income finds support from accumulated volume at $15.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.250 between high and low, or 1.58%. For the last week the stock has had daily average volatility of 1.45%.
Our recommended stop-loss: $15.43 (-3.93%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (BNJ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect BlackRock New Jersey Municipal Income Trust to open at $15.98, and during the day (based on 14 day Average True Range), to move between $15.84 and $16.28, which gives a possible trading interval of +/-$0.225 (+/-1.40%) up or down from last closing price. If BlackRock New Jersey Municipal Income Trust takes out the full calculated possible swing range there will be an estimated 2.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.15 (0.56%) than the support at $15.66 (2.49%), 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.
Is BlackRock New Jersey Municipal Income Trust 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 BlackRock New Jersey Municipal Income stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.129 Buy Candidate Upgraded
Predicted Opening Price for BlackRock New Jersey Municipal Income Trust of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $15.98 ( 0.519%) | $16.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNJ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.23 | 1.04% |
| R2 | 16.13 | 0.443% |
| R1 | 16.07 | 0.0758% |
| Price | 16.06 | |
| S1 | 15.88 | -1.11% |
| S2 | 15.82 | -1.48% |
| S3 | 15.73 | -2.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.54 | 2.99% |
| R2 | 16.21 | 0.93% |
| R1 | 16.15 | 0.560% |
| Price | 16.06 | |
| S1 | 15.66 | -2.49% |
| S2 | 15.60 | -2.86% |
| S3 | 15.52 | -3.36% |
BNJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 09, 2024 | Aug 09, 2024 | Aug 24, 2024 | $0.281 | 1.75% |
| 2 | May 08, 2024 | May 08, 2024 | May 24, 2024 | $0.281 | 1.79% |
| 3 | Jan 12, 2024 | Feb 08, 2024 | Feb 26, 2024 | $0.281 | 1.79% |
| 4 | Oct 05, 2023 | Nov 08, 2023 | Nov 24, 2023 | $0.281 | 1.92% |
| 5 | Jun 30, 2023 | Aug 08, 2023 | Aug 24, 2023 | $0.281 | 1.90% |
FAQ
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