Black Stone Minerals Stock Forecast
Black Stone Minerals stock upgraded to Buy Candidate.
(Updated on May 02, 2024)
The Black Stone Minerals stock price gained 1.76% on the last trading day (Thursday, 2nd May 2024), rising from $15.92 to $16.20. During the last trading day the stock fluctuated 1.76% from a day low at $15.92 to a day high of $16.20. The price has risen in 8 of the last 10 days and is up by 5.47% 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, 304 thousand shares were bought and sold for approximately $4.92 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.67% during the next 3 months and, with a 90% probability hold a price between $15.97 and $17.46 at the end of this 3-month period.
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BSM Signals & Forecast
The Black Stone Minerals 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 $16.05 and $15.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.47%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $15.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.280 (1.76%) between high and low. For the last week, the stock has had daily average volatility of 1.63%.
Our recommended stop-loss: $15.41 (-4.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (BSM) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Black Stone Minerals LP to open at $16.11, and during the day (based on 14 day Average True Range), to move between $15.91 and $16.49, which gives a possible trading interval of +/-$0.288 (+/-1.78%) 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 3.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.24 (0.25%) than the support at $15.98 (1.36%), 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
Black Stone Minerals will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.350. We will update the financials statements for Black Stone Minerals, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.10% in the first trading day after earnings release.
Is Black Stone Minerals LP stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Black Stone Minerals stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.527 Buy Candidate Upgraded
Predicted Opening Price for Black Stone Minerals LP of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $16.11 ( 0.576%) | $16.20 |
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 | 16.39 | 1.15 % | |
| R2 | 16.28 | 0.492 % | ||
| R1 | 16.21 | 0.0841 % | ||
| Current price: | 16.20 | |||
| Support | S1 | 16.00 | -1.24 % | |
| S2 | 15.93 | -1.64 % | ||
| S3 | 15.83 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.59 | 2.41 % | |
| R2 | 16.49 | 1.79 % | ||
| R1 | 16.24 | 0.247 % | ||
| Current price | 16.20 | |||
| Support | S1 | 15.98 | -1.36% | |
| S2 | 15.79 | -2.53% | ||
| S3 | 15.53 | -4.14% |
BSM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | May 09, 2024 | May 17, 2024 | $0.375 | 2.31% |
| 2 | Feb 15, 2024 | Feb 15, 2024 | Feb 23, 2024 | $0.475 | 3.08% |
| 3 | Oct 18, 2023 | Nov 08, 2023 | Nov 16, 2023 | $0.475 | 2.74% |
| 4 | Jul 25, 2023 | Aug 10, 2023 | Aug 18, 2023 | $0.475 | 2.77% |
| 5 | Apr 19, 2023 | May 11, 2023 | May 19, 2023 | $0.475 | 2.90% |
FAQ
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