Blackrock Resources & Commodities Strategy Trust (BCX) Stock Formed Bullish Wedge Up Chart Pattern. What To Expect?

December 7, 2017 - By Darrin Black

Investors sentiment decreased to 1.37 in 2017 Q2. Its down 0.10, from 1.47 in 2017Q1. It turned negative, as 8 investors sold Blackrock Resources & Commodities Strategy Trust shares while 22 reduced holdings. 17 funds opened positions while 24 raised stakes. 35.33 million shares or 0.64% less from 35.56 million shares in 2017Q1 were reported.
Moreover, Hightower Advsr Limited Company has 0% invested in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX) for 11,021 shares. Grt Capital Prns Lc, Massachusetts-based fund reported 61,100 shares. 2.90 million were accumulated by Morgan Stanley. Wolverine Asset Mgmt Ltd Liability has 0% invested in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX) for 2,669 shares. Pnc Group Inc Incorporated reported 0% stake. Wfg Advsrs Limited Partnership invested in 0% or 2,000 shares. 1607 Cap Limited Liability Com holds 2.88% or 6.02M shares in its portfolio. Raymond James Advisors has invested 0.01% of its portfolio in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX). Thrivent Financial For Lutherans has invested 0% in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX). Canal Ins invested in 200,000 shares or 0.59% of the stock. Geode Management Ltd Liability Corp has 0% invested in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX) for 207,483 shares. Citadel Advsr Ltd Liability Co owns 0% invested in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX) for 18,405 shares. Glob Endowment Management Limited Partnership has 0.06% invested in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX). 1.39M were reported by Invesco Limited. Athena Capital Ltd Liability Com, Massachusetts-based fund reported 117,653 shares.

The stock of Blackrock Resources & Commodities Strategy Trust (BCX) formed an up wedge with $9.44 target or 7.00 % above today’s $8.82 share price. The 9 months wedge indicates low risk for the $ company. If the $9.44 price target is reached, the company will be worth $ more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 1.01% or $0.09 during the last trading session, reaching $8.82. About 300,846 shares traded or 35.74% up from the average. Blackrock Resources & Commodities Strategy Trust (NYSE:BCX) has risen 13.36% since December 8, 2016 and is uptrending. It has underperformed by 3.34% the S&P500.

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