Black Hills Corporation Forecast and Stock Analysis
Technical BKH stock analysis for February 15, 2019.
|Shorts||5.65% ( 2019-01-31 )|
Black Hills Corporation gained 0.16% in the last trading day, rising from $69.53 to $69.64 The price has risen in 6 of the last 10 days and is up by 3.82% over the past 2 weeks. Volume fell in the last day by -34 209 shares, and in total, 434 150 shares bought and sold for approximately $30.23 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the BKH stock was $69.64. This is 0.16% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 1.30% from a day low at $69.57 to a day high of $70.47.
30 day high of the BKH stock price was $70.70 and low was $63.29.
90 day high was $70.70 and low was $59.49.
52 week high for the Black Hills Corporation - $70.70 and low - $50.49.
Black Hills Corporation lies in the upper part of a wide and weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $70.58 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 4.69% during the next 3 months and, with 90% probability hold a price between $65.19 and $73.89 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Tuesday February 12, 2019, which indicates further falls until a new bottom pivot has been found. Black Hills Corporation holds a sales 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. On further gains, the stock will meet resistance from the short-term moving average at approximately $69.66. On a fall, the stock will find some support from the long-term average at approximately $65.47. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 73 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Black Hills Corporation finds support from accumulated volume at $69.43.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.91 (1.30%) between high and low. For the last week, the stock has had a daily average volatility of 1.17%.
The stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that 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.
Our recommended stoploss: $67.03 (-3.75%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 73 and this increases the risk substantially. There is a sell signal from pivot top found 3 days ago.)
Very Low Low Medium High Very High
Evaluation: Buy Candidate
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 this stock to perform well in the short-term.