Black Hills Corporation Stock Forecast
Black Hills Corporation stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Black Hills Corporation stock price fell by -0.623% on the last day (Thursday, 25th Apr 2024) from $54.54 to $54.20. During the last trading day the stock fluctuated 1.06% from a day low at $53.80 to a day high of $54.37. The price has risen in 6 of the last 10 days and is up by 3.32% over the past 2 weeks. Volume has increased on the last day by 46 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, 340 thousand shares were bought and sold for approximately $18.43 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.81% during the next 3 months and, with a 90% probability hold a price between $53.96 and $58.04 at the end of this 3-month period.
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BKH Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.623%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Black Hills Corporation 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 $53.66 and $53.14. A breakdown below any of these levels will issue sell signals.
A sell signal from a double top formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -7.48% to $50.15 within 18 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for Black Hills Corporation stock
Black Hills Corporation finds support from accumulated volume at $52.36 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 $0.570 (1.06%) between high and low. For the last week, the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: $52.48 (-3.18%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BKH) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Black Hills Corporation to open at $54.12, and during the day (based on 14 day Average True Range), to move between $53.17 and $55.23, which gives a possible trading interval of +/-$1.03 (+/-1.91%) up or down from last closing price. If Black Hills Corporation takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $54.22 (0.04%) than the support at $52.36 (3.39%), 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 Black Hills Corporation stock A Buy?
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 Black Hills Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.694 Buy Candidate Upgraded
Predicted Opening Price for Black Hills Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $54.12 ( 0.141%) | $54.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.69 | 0.91 % | |
| R2 | 54.48 | 0.508 % | ||
| R1 | 54.34 | 0.260 % | ||
| Current price: | 54.20 | |||
| Support | S1 | 53.91 | -0.543 % | |
| S2 | 53.77 | -0.791 % | ||
| S3 | 53.55 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.60 | 0.738 % | |
| R2 | 54.37 | 0.314 % | ||
| R1 | 54.22 | 0.0369 % | ||
| Current price | 54.20 | |||
| Support | S1 | 52.36 | -3.39% | |
| S2 | 52.12 | -3.84% | ||
| S3 | 52.03 | -4.00% |
BKH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | May 16, 2024 | Jun 01, 2024 | $0.650 | 1.20% |
| 2 | Jan 26, 2024 | Feb 15, 2024 | Mar 01, 2024 | $0.650 | 1.26% |
| 3 | Oct 23, 2023 | Nov 16, 2023 | Dec 01, 2023 | $0.625 | 1.17% |
| 4 | Jul 24, 2023 | Aug 17, 2023 | Sep 01, 2023 | $0.625 | 1.14% |
| 5 | Apr 24, 2023 | May 17, 2023 | Jun 01, 2023 | $0.625 | 1.03% |
FAQ
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