Black Stone Minerals Stock Forecast
Stronger technical forecast for Black Stone Minerals stock price after Friday trading.
(Updated on Apr 19, 2024)
The Black Stone Minerals stock price gained 1.04% on the last trading day (Friday, 19th Apr 2024), rising from $15.36 to $15.52. During the last trading day the stock fluctuated 2.70% from a day low at $15.36 to a day high of $15.78. The price has fallen in 7 of the last 10 days and is down by -6.84% for this period. Volume fell on the last day by -737 thousand shares and in total, 603 thousand shares were bought and sold for approximately $9.36 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 stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Black Stone Minerals stock with a 90% probability to be traded between $14.71 and $16.52 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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BSM Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.04%. Further rise is indicated until a new top pivot has been found. 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. The Black Stone Minerals 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 $15.74 and $15.81. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Black Stone Minerals stock
Black Stone Minerals finds support from accumulated volume at $15.47 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 $0.415 between high and low, or 2.70%. For the last week, the stock has had daily average volatility of 2.27%.
Our recommended stop-loss: $14.70 (-5.30%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (BSM) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Black Stone Minerals LP to open at $15.55, and during the day (based on 14 day Average True Range), to move between $15.22 and $15.82, which gives a possible trading interval of +/-$0.300 (+/-1.93%) up or down from last closing price. If Black Stone Minerals LP takes out the full calculated possible swing range there will be an estimated 3.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.53 (0.06%) than the support at $15.47 (0.32%), 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 Black Stone Minerals LP stock A Buy?
Black Stone Minerals holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.853 Hold/Accumulate Upgraded
Predicted Opening Price for Black Stone Minerals LP of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$15.55 ( 0.204%) | $15.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.97 | 2.88 % | |
R2 | 15.81 | 1.86 % | ||
R1 | 15.71 | 1.23 % | ||
Current price: | 15.52 | |||
Support | S1 | 15.39 | -0.82 % | |
S2 | 15.30 | -1.45 % | ||
S3 | 15.14 | -2.47 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.98 | 2.96 % | |
R2 | 15.79 | 1.74 % | ||
R1 | 15.53 | 0.0644 % | ||
Current price | 15.52 | |||
Support | S1 | 15.47 | -0.322% | |
S2 | 15.36 | -1.03% | ||
S3 | 14.91 | -3.93% |
BSM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 15, 2024 | Feb 15, 2024 | Feb 23, 2024 | $0.475 | 3.08% |
2 | Oct 18, 2023 | Nov 08, 2023 | Nov 16, 2023 | $0.475 | 2.74% |
3 | Jul 25, 2023 | Aug 10, 2023 | Aug 18, 2023 | $0.475 | 2.77% |
4 | Apr 19, 2023 | May 11, 2023 | May 19, 2023 | $0.475 | 2.90% |
5 | Feb 01, 2023 | Feb 15, 2023 | Feb 23, 2023 | $0.475 | 3.08% |
FAQ
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