BalckRock Taxable Municipal Bond Trust Stock Forecast

Stronger technical forecast for BalckRock Taxable Municipal Bond Trust stock price after Tuesday trading.
(Updated on Apr 23, 2024)

BBN Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.03%. 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. The BalckRock Taxable Municipal Bond Trust stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $16.18. On a fall, the stock will find some support from the short-term average at $15.58. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for BalckRock Taxable Municipal Bond Trust stock

BalckRock Taxable Municipal Bond Trust finds support from accumulated volume at $15.64 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 $0.181 (1.17%) between high and low. For the last week, the stock has had daily average volatility of 0.85%.

Our recommended stop-loss: $14.71 (-6.07%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (BBN) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect BalckRock Taxable Municipal Bond Trust to open at $15.64, and during the day (based on 14 day Average True Range), to move between $15.51 and $15.81, which gives a possible trading interval of +/-$0.150 (+/-0.96%) up or down from last closing price. If BalckRock Taxable Municipal Bond Trust takes out the full calculated possible swing range there will be an estimated 1.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $15.64 (0.13%) than the resistance at $16.15 (3.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BalckRock Taxable Municipal Bond Trust stock A Buy?

BalckRock Taxable Municipal Bond Trust 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: -0.683 Hold/Accumulate Upgraded

Predicted Opening Price for BalckRock Taxable Municipal Bond Trust of Wednesday, April 24, 2024

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