Blackrock Floating Rate Income Stock Forecast
Stronger technical forecast for Blackrock Floating Rate Income stock price after Friday trading.
(Updated on Apr 19, 2024)
The Blackrock Floating Rate Income stock price gained 0.697% on the last trading day (Friday, 19th Apr 2024), rising from $12.91 to $13.00. 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 0.774% from a day low at $12.94 to a day high of $13.04. The price has risen in 8 of the last 10 days and is up by 1.01% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 34 thousand more shares were traded than the day before. In total, 107 thousand shares were bought and sold for approximately $1.39 million.
The stock lies in the middle of a narrow and 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 3.72% during the next 3 months and, with a 90% probability hold a price between $13.28 and $13.75 at the end of this 3-month period.
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FRA Signals & Forecast
The Blackrock Floating Rate Income stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, 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 $12.92 and $12.94. A breakdown below any of these levels will issue sell signals. Blackrock Floating Rate Income 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -1.59%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Blackrock Floating Rate Income stock
Blackrock Floating Rate Income finds support from accumulated volume at $12.91 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 $0.100 between high and low, or 0.774%. For the last week the stock has had daily average volatility of 0.94%.
Our recommended stop-loss: $12.42 (-4.45%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (FRA) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Blackrock Floating Rate Income Strategies Fund Inc to open at $12.99, and during the day (based on 14 day Average True Range), to move between $12.86 and $13.14, which gives a possible trading interval of +/-$0.142 (+/-1.10%) up or down from last closing price. If Blackrock Floating Rate Income Strategies Fund Inc takes out the full calculated possible swing range there will be an estimated 2.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.01 (0.08%) than the support at $12.91 (0.69%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Blackrock Floating Rate Income Strategies Fund Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Blackrock Floating Rate Income stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.345 Buy Candidate Upgraded
Predicted Opening Price for Blackrock Floating Rate Income Strategies Fund Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $12.99 ( 0.0515%) | $13.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.09 | 0.718 % | |
| R2 | 13.06 | 0.424 % | ||
| R1 | 13.03 | 0.243 % | ||
| Current price: | 13.00 | |||
| Support | S1 | 12.96 | -0.346 % | |
| S2 | 12.93 | -0.527 % | ||
| S3 | 12.89 | -0.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.21 | 1.62 % | |
| R2 | 13.09 | 0.692 % | ||
| R1 | 13.01 | 0.0769 % | ||
| Current price | 13.00 | |||
| Support | S1 | 12.91 | -0.692% | |
| S2 | 12.87 | -1.00% | ||
| S3 | 12.61 | -3.00% |
FRA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.124 | 0.95% |
| 2 | Mar 01, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.124 | 0.96% |
| 3 | Feb 14, 2024 | Feb 14, 2024 | Feb 14, 2024 | $0 | 0% |
| 4 | Jan 02, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.124 | 0.99% |
| 5 | Dec 05, 2023 | Dec 14, 2023 | Dec 20, 2023 | $0.124 | 1.01% |
FAQ
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