BLACKROCK CORE BOND TRUST (BHK) Stock Technical Analysis
NYSE:BHK - US09249E1010
Overall BHK gets a technical rating of 3 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. BHK was also a bad performer in the overall market in the last year.
BHK has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 9.73. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 9.64, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BHK in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
9.09
2 important support areas can be observed.
- A support zone ranging from 9.41 to 9.64. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @9.18 from a horizontal line in the weekly time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 9.73 to 9.84. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @10.48 from a horizontal line in the daily time frame.
- A resistance zone ranging from 10.66 to 10.78. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @11.28 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for BHK is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BHK is up. |
| ChartMill Relative Strength | 15.87 | NEGATIVE | BHK has a low relative strength, it was outperformed by 84.13% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BHK is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BHK is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of BHK is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 56.7 | NEUTRAL | The RSI value for BHK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests BHK has a positive trend. |
| Stochastics (14,3) | 63.6 | NEUTRAL | The Stochastics value for BHK is a neutral value. |
| Average True Range in percent/ATR (20) | 0.66 | LOW VOLATILITY | The low ATR as a percentage value for BHK suggests low volalility. |
| Average Directional Index/ADX (14) | 15.04 | NEGATIVE | The low ADX value for BHK suggests a weak or negative trend. |
9.69
-0.01 (-0.1%)