Black Stone Minerals Stock Forecast
Green day on Wednesday for Black Stone Minerals stock after gaining 0.571%
(Updated on Apr 24, 2024)
The Black Stone Minerals stock price gained 0.571% on the last trading day (Wednesday, 24th Apr 2024), rising from $15.75 to $15.84. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.40% from a day low at $15.71 to a day high of $15.93. The price has been going up and down for this period, and there has been a -3.94% loss for the last 2 weeks. Volume fell on the last day by -133 thousand shares and in total, 433 thousand shares were bought and sold for approximately $6.86 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Black Stone Minerals stock with a 90% probability to be traded between $14.91 and $16.66 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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BSM Signals & Forecast
There are mixed signals in the stock today. The Black Stone Minerals stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $15.86. On a fall, the stock will find some support from the short-term average at $15.62. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.13%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Black Stone Minerals stock
Black Stone Minerals finds support from accumulated volume at $15.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.220 between high and low, or 1.40%. For the last week, the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BSM) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Black Stone Minerals LP to open at $15.83, and during the day (based on 14 day Average True Range), to move between $15.54 and $16.14, which gives a possible trading interval of +/-$0.297 (+/-1.87%) up or down from last closing price. If Black Stone Minerals LP takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.79 (0.32%) than the resistance at $15.96 (0.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Black Stone Minerals LP stock A Buy?
Black Stone Minerals 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.
Current score: -3.390 Sell Candidate Unchanged
Predicted Opening Price for Black Stone Minerals LP of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $15.83 ( 0.0842%) | $15.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.05 | 1.30 % | |
| R2 | 15.96 | 0.774 % | ||
| R1 | 15.91 | 0.446 % | ||
| Current price: | 15.84 | |||
| Support | S1 | 15.74 | -0.615 % | |
| S2 | 15.69 | -0.94 % | ||
| S3 | 15.61 | -1.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.49 | 4.10 % | |
| R2 | 15.98 | 0.88 % | ||
| R1 | 15.96 | 0.758 % | ||
| Current price | 15.84 | |||
| Support | S1 | 15.79 | -0.316% | |
| S2 | 15.53 | -1.96% | ||
| S3 | 15.36 | -3.03% |
BSM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | May 09, 2024 | May 17, 2024 | $0.375 | 2.37% |
| 2 | Feb 15, 2024 | Feb 15, 2024 | Feb 23, 2024 | $0.475 | 3.08% |
| 3 | Oct 18, 2023 | Nov 08, 2023 | Nov 16, 2023 | $0.475 | 2.74% |
| 4 | Jul 25, 2023 | Aug 10, 2023 | Aug 18, 2023 | $0.475 | 2.77% |
| 5 | Apr 19, 2023 | May 11, 2023 | May 19, 2023 | $0.475 | 2.90% |
FAQ
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