BlackRock California Municipal Income Stock Forecast
Red day on Wednesday for BlackRock California Municipal Income stock after losing 0.94%
(Updated on Apr 24, 2024)
The BlackRock California Municipal Income stock price fell by -0.94% on the last day (Wednesday, 24th Apr 2024) from $11.69 to $11.58. During the last trading day the stock fluctuated 0.95% from a day low at $11.57 to a day high of $11.68. The price has fallen in 6 of the last 10 days and is down by -0.34% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 35 thousand shares were bought and sold for approximately $401.87 thousand.
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 $11.35 and $11.80 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
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.88%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BlackRock California Municipal Income 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 $11.59 and $11.76. 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). BlackRock California Municipal Income gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for BlackRock California Municipal Income stock
BlackRock California Municipal Income finds support from accumulated volume at $11.57 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 $0.110 between high and low, or 0.95%. For the last week the stock has had daily average volatility of 0.780%.
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 Thursday 25th
For the upcoming trading day on Thursday, 25th we expect BlackRock California Municipal Income Trust to open at $11.61, and during the day (based on 14 day Average True Range), to move between $11.48 and $11.68, which gives a possible trading interval of +/-$0.0993 (+/-0.86%) 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 1.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.57 (0.09%) than the resistance at $11.69 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BlackRock California Municipal Income Trust stock A Buy?
BlackRock California Municipal Income holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.007 Sell Candidate Unchanged
Predicted Opening Price for BlackRock California Municipal Income Trust of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$11.61 ( 0.259%) | $11.58 |
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 | 11.72 | 1.21 % | |
R2 | 11.68 | 0.85 % | ||
R1 | 11.65 | 0.622 % | ||
Current price: | 11.58 | |||
Support | S1 | 11.57 | -0.104 % | |
S2 | 11.54 | -0.328 % | ||
S3 | 11.50 | -0.691 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.82 | 2.07 % | |
R2 | 11.78 | 1.73 % | ||
R1 | 11.69 | 0.95 % | ||
Current price | 11.58 | |||
Support | S1 | 11.57 | -0.0864% | |
S2 | 11.56 | -0.173% | ||
S3 | 11.48 | -0.88% |
BFZ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0510 | 0.440% |
2 | Mar 01, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0510 | 0.431% |
3 | Nov 17, 2023 | Feb 14, 2024 | Mar 01, 2024 | $0.0510 | 0.434% |
4 | Jan 11, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0510 | 0.428% |
5 | Dec 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0510 | 0.424% |
FAQ
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