Could BlackRock Health Sciences Trust (BME) Go Up? The Stock Formed Bullish Descending Triangle

January 13, 2018 - By Peter Erickson

Investors sentiment decreased to 1.63 in Q3 2017. Its down 0.12, from 1.75 in 2017Q2. It worsened, as 1 investors sold BlackRock Health Sciences Trust shares while 7 reduced holdings. 2 funds opened positions while 11 raised stakes. 1.21 million shares or 2.12% more from 1.18 million shares in 2017Q2 were reported.
Raymond James & Assocs reported 14,172 shares stake. Citigroup Inc holds 0% or 382 shares in its portfolio. Hightower Advsr Ltd Llc invested in 0% or 14,390 shares. Morgan Stanley accumulated 0% or 130,841 shares. Wells Fargo And Mn stated it has 0% in BlackRock Health Sciences Trust (NYSE:BME). 9,600 are held by National Planning. Advantage has 749 shares for 0.02% of their portfolio. Cordasco Finance Net has invested 0.03% in BlackRock Health Sciences Trust (NYSE:BME). Reilly Fin Limited Company accumulated 710 shares. Advisory Ser Net Limited Liability reported 330 shares. Moreover, Royal Bankshares Of Canada has 0% invested in BlackRock Health Sciences Trust (NYSE:BME) for 53,863 shares. Bank & Trust Of America De holds 0% in BlackRock Health Sciences Trust (NYSE:BME) or 762,785 shares. First Allied Advisory Svcs accumulated 31,962 shares or 0.05% of the stock. The Illinois-based Arete Wealth Advsr Ltd has invested 0.24% in BlackRock Health Sciences Trust (NYSE:BME). Stratos Wealth Ptnrs Limited holds 6,975 shares or 0.01% of its portfolio.

The stock of BlackRock Health Sciences Trust (BME) formed a descending triangle with $38.04 target or 4.00 % above today’s $36.58 share price. The 9 months triangle pattern indicates low risk for the $316.35M company. If the $38.04 price target is reached, the company will be worth $12.65 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.43% or $0.16 during the last trading session, reaching $36.58. About 35,588 shares traded or 41.22% up from the average. BlackRock Health Sciences Trust (NYSE:BME) has declined 4.95% since January 13, 2017 and is downtrending. It has underperformed by 21.65% the S&P500.

More news for BlackRock Health Sciences Trust (NYSE:BME) were recently published by: Seekingalpha.com, which released: “BlackRock Health Sciences Trust: A CEF I ‘Love’ That Should Be On Your Watch List” on December 12, 2014. Quotes.Wsj.com‘s article titled: “BlackRock Health Sciences Trust” and published on February 12, 2011 is yet another important article.

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