BlackRock Science and Technology Trust Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
|Shorts||0.15% ( 2018-11-15 )|
BlackRock Science and Technology Trust gained 2.19% in the last trading day, rising from $28.78 to $29.41 The price has been going up and down for this period, and there has been a 7.18% gain for the last 2 weeks. Volume fell in the last day by -44 265 shares, and in total, 60 623 shares bought and sold for approximately $1.78 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.
BlackRock Science and Technology Trust lies the upper part of a very wide and falling 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 $29.93 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.21% during the next 3 months and, with 90% probability hold a price between $17.76 and $23.28 at the end of this period.
Only positive signals in the chart today. BlackRock Science and Technology Trust 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 $29.46. On a fall, the stock will find some support from the long-term average at approximately $28.87. 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 Tuesday December 11, 2018, which indicates further gains 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 may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 71 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
BlackRock Science and Technology Trust finds support from accumulated volume at $28.60.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.42 between high and low, or 1.44%. For the last week, the stock has had a daily average volatility of 2.89%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trendposition 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: $28.03 (-4.70%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 71 and this increases the risk substantially. There is a buy signal from pivot bottom found 1 days ago.)
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Several short-term signals are positive, despite the stock being in a falling trend, 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. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.
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