Could BlackRock Enhanced Equity Dividend Trust (BDJ) Change Direction After This Bearish H&S Chart Pattern

April 23, 2018 - By Ellis Scott

Investors sentiment increased to 1.69 in Q4 2017. Its up 0.62, from 1.07 in 2017Q3. It improved, as 12 investors sold BlackRock Enhanced Equity Dividend Trust shares while 23 reduced holdings. 22 funds opened positions while 37 raised stakes. 29.74 million shares or 3.33% less from 30.76 million shares in 2017Q3 were reported.
Park Avenue Ltd Liability Corp owns 0.09% invested in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) for 36,121 shares. Ontario – Canada-based Royal Bank & Trust Of Canada has invested 0.01% in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ). Tradewinds Mngmt Ltd Liability Com, a Washington-based fund reported 287 shares. 14,176 are owned by Goldman Sachs Gru. Raymond James Trust Na reported 216,780 shares stake. Regis Mgmt Limited Liability reported 15,709 shares stake. City Holdg accumulated 9,561 shares. Css Ltd Limited Liability Company Il has invested 0.04% in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ). Carroll Financial Assoc holds 1,646 shares or 0% of its portfolio. Oakworth Cap reported 0.06% of its portfolio in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ). Community Savings Bank Na, a New York-based fund reported 5,703 shares. Camelot Portfolios Lc has 0.05% invested in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ). Cordasco Financial Network has 0.03% invested in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ). Guggenheim Cap Llc holds 0.02% of its portfolio in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) for 728,895 shares. Brown Advisory has 41,549 shares.

The stock of BlackRock Enhanced Equity Dividend Trust (BDJ) formed H&S with $8.46 target or 4.00 % below today’s $8.81 share price. The 8 months Head & Shoulders indicates high risk for the $1.65 billion company. It was reported on Apr, 23 by Faxor.com. If the $8.46 price target is reached, the company will be worth $66.12 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock decreased 0.56% or $0.05 during the last trading session, reaching $8.81. About 350,189 shares traded. BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) has risen 3.60% since April 23, 2017 and is uptrending. It has underperformed by 7.95% the S&P500.

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