Blackrock Enhanced Government Fund Inc Stock Forecast
Green day on Thursday for Blackrock Enhanced Government Fund Inc
(Updated on Apr 18, 2024)
The Blackrock Enhanced Government Fund Inc stock price gained 0.660% on the last trading day (Thursday, 18th Apr 2024), rising from $9.09 to $9.15. During the last trading day the stock fluctuated 0% from a day low at $9.15 to a day high of $9.15. The price has fallen in 7 of the last 10 days and is down by -2.76% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 229 more shares were traded than the day before. In total, 329 shares were bought and sold for approximately $3.01 thousand.
The stock lies in the lower of a narrow and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.07 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.92% during the next 3 months and, with a 90% probability hold a price between $8.62 and $9.01 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EGF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.715%. Further rise is indicated until a new top pivot has been found. Blackrock Enhanced Government Fund Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Blackrock Enhanced Government Fund Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $9.15 and $9.39. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Blackrock Enhanced Government Fund Inc stock
Blackrock Enhanced Government Fund Inc finds support from accumulated volume at $9.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.461%.
Blackrock Enhanced Government Fund Inc is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EGF) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Blackrock Enhanced Government Fund Inc to open at $9.15, and during the day (based on 14 day Average True Range), to move between $9.08 and $9.22, which gives a possible trading interval of +/-$0.0666 (+/-0.73%) up or down from last closing price. If Blackrock Enhanced Government Fund Inc takes out the full calculated possible swing range there will be an estimated 1.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.09 (0.65%) than the resistance at $9.38 (2.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Blackrock Enhanced Government Fund Inc stock A Buy?
Blackrock Enhanced Government Fund Inc holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.357 Sell Candidate Unchanged
Predicted Opening Price for Blackrock Enhanced Government Fund Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $9.15 ( 0%) | $9.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.15 | . | |
| R2 | 9.15 | . | ||
| R1 | 9.15 | . | ||
| Current price: | 9.15 | |||
| Support | S1 | 9.15 | . | |
| S2 | 9.15 | . | ||
| S3 | 9.15 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.44 | 3.17 % | |
| R2 | 9.41 | 2.84 % | ||
| R1 | 9.38 | 2.51 % | ||
| Current price | 9.15 | |||
| Support | S1 | 9.09 | -0.652% | |
| S2 | 9.09 | -0.656% | ||
| S3 | 9.09 | -0.710% |
EGF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.0410 | 0.448% |
| 2 | Mar 01, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0410 | 0.432% |
| 3 | Feb 14, 2024 | Feb 14, 2024 | Feb 14, 2024 | $0 | 0% |
| 4 | Jan 02, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.0410 | 0.418% |
| 5 | Dec 05, 2023 | Dec 14, 2023 | Dec 20, 2023 | $0.0410 | 0.418% |
FAQ
Click here for our free guide on how to buy Blackrock Enhanced Government Fund Inc Stock.
