BLACKROCK INCOME TRUST (BKT) Stock Technical Analysis
NYSE:BKT - New York Stock Exchange, Inc. - US09247F2092 - Currency: USD
Taking everything into account, BKT scores 5 out of 10 in our technical rating. BKT has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
Although the technical rating is only medium, BKT does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 11.72, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BKT in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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11.12
We found 2 important support areas.
- A support zone ranging from 11.59 to 11.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 11.23 to 11.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- Strong resistance @11.99 from a horizontal line in the daily time frame.
- Resistance @12.30 from a horizontal line in the weekly 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 | NEUTRAL | NEUTRAL | The long term trend for BKT is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BKT is up. |
| ChartMill Relative Strength | 31.5 | NEUTRAL | BKT is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BKT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BKT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of BKT is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 59.93 | NEUTRAL | The RSI value for BKT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests BKT has a positive trend. |
| Stochastics (14,3) | 85.12 | OVERBOUGHT | The high Stochastics value suggests BKT may be overbought. |
| Average True Range in percent/ATR (20) | 0.79 | LOW VOLATILITY | The low ATR as a percentage value for BKT suggests low volalility. |
| Average Directional Index/ADX (14) | 19.4 | NEGATIVE | The low ADX value for BKT suggests a weak or negative trend. |
11.75
+0.03 (+0.26%)