BLACKROCK MUN INC TRUST II (BLE)       10.91  -0.08 (-0.73%)

10.91  -0.08 (-0.73%)

US09249N1019

Technical Rating

7

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

1 Month 3 Months 6 Months 12 Months 4.27% 14.48% -6.55% -22.17% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 31.49 9.4 - 14.62
BLE Weekly chart
BLE Daily chart

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

8

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.


ENTRYEXITDISTANCECAPITAL
11.0010.860.14 (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.
BLE Daily chart

BLACKROCK MUN INC TRUST II10.91

NYSE:BLE (2/6/2023, 12:13:58 PM)-0.08 (-0.73%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector N/A
GICS Industry N/A

Performance
Today -0.73% 1 Week 0.46%
2 Weeks -0.9% 1 Month 4.27%
3 Month 14.48% 6 Month -6.55%

Volatility
ATR(14) 0.12 ATR(20)% 1.14%
ATR Inc 6.76% Range Today 0.06

Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)

Relative Strength & Ranges
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

Volume & EV
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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