BlackRock Utility and Infrastructure Stock Forecast

BlackRock Utility and Infrastructure stock price ended at $21.79 on Friday, after gaining 0.554%.
(Updated on May 03, 2024)

BUI Signals & Forecast

Mostly positive signals in the chart today. The BlackRock Utility and Infrastructure 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 $21.48 and $21.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.87%. 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). BlackRock Utility and Infrastructure 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.

Support, Risk & Stop-loss for BlackRock Utility and Infrastructure stock

BlackRock Utility and Infrastructure finds support from accumulated volume at $21.04 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 $0.203 (0.93%) between high and low. For the last week, the stock has had daily average volatility of 1.06%.

The BlackRock Utility and Infrastructure stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the BlackRock Utility and Infrastructure has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $20.89 (-4.12%) (This stock has low daily movements and this gives low risk. The RSI14 is 89 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (BUI) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect BlackRock Utility and Infrastructure Trust to open at $21.80, and during the day (based on 14 day Average True Range), to move between $21.54 and $22.04, which gives a possible trading interval of +/-$0.253 (+/-1.16%) up or down from last closing price. If BlackRock Utility and Infrastructure Trust takes out the full calculated possible swing range there will be an estimated 2.32% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $21.04, some $0.750 (3.44%) from the current price of $21.79, our system finds the risk reward attractive.

Is BlackRock Utility and Infrastructure 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 Utility and Infrastructure stock to perform well in the short-term period.

Current score: 3.797 Buy Candidate Unchanged

Predicted Opening Price for BlackRock Utility and Infrastructure Trust of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.