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AI Analysis of BFZ
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Weaker technical forecast for BlackRock California Municipal Income as stock downgraded to Sell Candidate.
(Updated on Mar 18, 2024)

Sell candidate since Mar 18, 2024 PDF

No changes to the price of BlackRock California Municipal Income stock on the last trading day (Monday, 18th Mar 2024). During the last trading day the stock fluctuated 0.84% from a day low at $11.88 to a day high of $11.98. The price has risen in 5 of the last 10 days and is up by 1.15% over the past 2 weeks.

The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect BlackRock California Municipal Income stock with a 90% probability to be traded between $11.55 and $12.04 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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BFZ Signals & Forecast

The BlackRock California Municipal Income stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $11.94. On a fall, the stock will find some support from the long-term average at approximately $11.81. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Wednesday, March 13, 2024, and so far it has fallen -0.668%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, March 01, 2024 in the short-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.

Buy
Special Signal Notification

Golden Star

The stock had a Golden Star Signal on Friday, March 01, 2024 in the short-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 California Municipal Income stock

BlackRock California Municipal Income finds support from accumulated volume at $11.79 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 $0.1000 between high and low, or 0.84%. For the last week the stock has had daily average volatility of 0.522%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BFZ) For The Upcoming Trading Day Of Tuesday 19th

For the upcoming trading day on Tuesday, 19th we expect BlackRock California Municipal Income Trust to open at $11.92, and during the day (based on 14 day Average True Range), to move between $11.82 and $11.98, which gives a possible trading interval of +/-$0.0816 (+/-0.69%) up or down from last closing price. If BlackRock California Municipal Income Trust takes out the full calculated possible swing range there will be an estimated 1.37% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $11.92 (0.17%) than the support at $11.79 (0.92%), 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 California Municipal Income Trust stock A Buy?

BlackRock California Municipal Income holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.384 Sell Candidate Downgraded

Predicted Opening Price for BlackRock California Municipal Income Trust of Tuesday, March 19, 2024

Fair opening price March 19, 2024 Current price
$11.92 ( 0.168%) $11.90

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

Trading levels for BFZ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 12.02 1.01 %
R2 11.98 0.687 %
R1 11.96 0.489 %
Current price: 11.90
Support S1 11.88 -0.153 %
S2 11.86 -0.351 %
S3 11.82 -0.672 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 12.00 0.84 %
R2 11.94 0.336 %
R1 11.92 0.168 %
Current price 11.90
Support S1 11.79 -0.92%
S2 11.75 -1.26%
S3 11.67 -1.93%

BFZ Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 01, 2024 Mar 14, 2024 Apr 01, 2024 $0.0510 0.429%
2 Nov 17, 2023 Feb 14, 2024 Mar 01, 2024 $0.0510 0.434%
3 Jan 11, 2024 Jan 11, 2024 Feb 01, 2024 $0.0510 0.428%
4 Dec 14, 2023 Dec 14, 2023 Dec 29, 2023 $0.0510 0.424%
5 Nov 01, 2023 Nov 14, 2023 Dec 01, 2023 $0.0390 0.343%

FAQ

What is the symbol for BlackRock California Municipal Income Trust Stock and on which exchange is it traded?
The symbol for BlackRock California Municipal Income Trust is BFZ and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell BlackRock California Municipal Income Trust Stock?
BlackRock California Municipal Income holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy BlackRock California Municipal Income Trust Stock?
BlackRock California Municipal Income Trust Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy BlackRock California Municipal Income Trust Stock.

What's the current price of BlackRock California Municipal Income Trust Stock?
As of the end of day on the 2024-03-18, the price of an BlackRock California Municipal Income Trust (BFZ) share was $11.90.

What is the 52-week high and low for BlackRock California Municipal Income Trust Stock?
The 52-week high for BlackRock California Municipal Income Trust Stock is $12.31 and the 52-week low is $9.86.

What is the market capitalization of BlackRock California Municipal Income Trust Stock?
As of the 2024-03-18, the market capitalization of BlackRock California Municipal Income Trust is 360.263M.
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About BlackRock California Municipal Income Trust

BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc. It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes. BlackRock California Municipal Income Trust was formed on July 31, 2001 and is domiciled in United States.... BFZ Profile

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