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BSM - Black Stone Minerals LP

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

Hold/Accumulate
Buy Score Rank #1204 out of #5176
Fri 18'th Aug 2017

PERIOD COVERED
2017-05-19 - 2017-08-18
CHANGE
0.80%
PRICE
$16.46
VOLUME
Sell
TREND
Buy

MV LONG
Buy

MV SHORT
Sell

PIVOT
Buy

MACD
Sell

BOLLINGER
Sell
Request Prediction
0.00%

Black Stone Minerals LP Stock Analysis

Technical stock analysis for Fri 18'th Aug 2017

Hold candidate since 2017-08-16 Gain 0.06%

Black Stone Minerals LP gained 0.80% in the last trading day, rising from $16.33 to $16.46 The price has fallen in 6 of the last 10 days , but is still up by 0.67% over the past 2 weeks. Volume fell in the last day by -26 382 shares, and in total, 78 055 shares bought and sold for approximately $1.28 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.

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 2.37% during the next 3 months and, with 90% probability hold a price between $16.04 and $17.65 at the end of this period.

Signals

Black Stone Minerals LP 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 $16.59. On a fall, the stock will find some support from the long-term average at approximately $16.30. 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. A buy signal was issued from a pivot bottom point on Thursday August 17, 2017, which indicates further gains 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

The stock had a Golden Star Signal* on Wednesday July 12, 2017 in the short-term chart.

* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Thursday August 17, 2017 and based on theory for this formation the price should go up by 1.34% to $17.67 within 10 trading days since signal was issued (Thursday August 31, 2017).

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 $16.33. On the upside the stock meets some resistance just above today's level from accumulated volume at $16.60, $16.88 and $17.00.

The stock is about to test the resistance from accumulated volume at $16.60 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Support: $16.33 Price: $16.46 Resistance: $16.60
S: $16.33 Price: $16.46 R: $16.60

Risk

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

Our recommended stoploss: $15.56 (-5.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)

Overall risk:

Very Low Low Medium High Very High

Overall risk:

           

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.

Hold/Accumulate

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