BSM - Black Stone Minerals LP

Industry: Independent Oil & Gas Sector: Basic Materials Exchange: NYSE

Thu 19'th Oct 2017

PERIOD 2017-07-20 - 2017-10-19
CHANGE -0.12%
PRICE $17.25
VOLUME
Sell
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Sell

MACD
Sell

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Black Stone Minerals LP Stock Analysis

Technical stock analysis for Thu 19'th Oct 2017

Hold candidate since 2017-10-18 Loss -0.12%

Black Stone Minerals LP fell by -0.12% in the last day from $17.27 to $17.25 The price has risen in 5 of the last 10 days and is up by 0.41% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -8 751 shares and in total 42 556 shares bought and sold for approximately $734 091.

Trend

Black Stone Minerals LP 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 6.05% during the next 3 months and, with 90% probability hold a price between $17.98 and $19.32 at the end of this period.

Signals

Black Stone Minerals LP holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $17.19 and $17.20. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday October 18, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Relative Strength Index (RSI)

RSI14 is 47 and the stock is currently not being overbought or oversold

Support & Resistance

Black Stone Minerals LP finds support from accumulated volume at $17.05. On the upside the stock meets some resistance just above today's level from accumulated volume at $17.34, $17.43 and $17.48.

The stock is about to test the resistance from accumulated volume at $17.34 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Support: $17.05 Price: $17.25 Resistance: $17.34

Risk

In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.

Our recommended stoploss: $16.52 (-4.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Black Stone Minerals LP holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.

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