BLACKROCK MUN INC TRUST II (BLE) 10.91 -0.08 (-0.73%)
10.91 -0.08 (-0.73%)
US09249N1019
Technical Rating
We assign a technical rating of 7 out of 10 to BLE. Although BLE is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Both the short term and long term trends are positive. This is a very positive sign.
BLE is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
When comparing the yearly performance of all stocks, BLE is a bad performer in the overall market: 69% of all stocks are doing better.
BLE is currently trading in the lower part of its 52 week range, which is not a good signal. Agreed, the S&P500 Index is also not doing fantastic, but it still sitting in the middle of its 52 week range.
Statistics
Support/Resistance Analysis
9.33
11.21
2 important support areas can be observed.
- A support zone ranging from 10.65 to 10.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 9.42 to 9.48. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 10.99 to 11.10. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Setup Analysis
Setup Rating
BLE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 10.91, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BLE 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.
Possible Trading Setup
The following trade can be suggested based on the decent technical rating and setup score.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 11.00 | 10.86 | 0.14 (1.32%) | 25.00% |
| An entry @11.00. This is a Buy Stop order right above the 10 day moving average. | An exit @10.86. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.14 points, which is 1.32%. | For a 0.33% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of BLE. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
BLACKROCK MUN INC TRUST II10.91
NYSE:BLE (2/6/2023, 12:13:58 PM)-0.08 (-0.73%)
| GICS Sector | N/A | ||
| GICS Industry | N/A | ||
| Today | -0.73% | 1 Week | 0.46% |
| 2 Weeks | -0.9% | 1 Month | 4.27% |
| 3 Month | 14.48% | 6 Month | -6.55% |
| ATR(14) | 0.12 | ATR(20)% | 1.14% |
| ATR Inc | 6.76% | Range Today | 0.06 |
| ST Trend | LT Trend | ||
| SMA(5) | SMA(10) | ||
| SMA(20) | SMA(50) | ||
| SMA(100) | SMA(200) |
| CRS | 31.49 | Mansfield | -0.41 |
| 10 Day High | 11.21 | 10 Day Low | 10.87 |
| 20 Day High | 11.21 | 20 Day Low | 10.54 |
| 52 Week High | 14.62 | 52 Week Low | 9.4 |
| CS1 End | 10.91 | CR1 Start | 10.99 |
| DER(3) | 5.32% | DER(5) | 3.6% |
| Volume | 76.19K | Volume Incr | 14.68% |
| Vol(5) | 157.26K | Vol(50) | 190.82K |
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