Does Blackrock New York Municipal 2018 Term T (BLH) Have Any Gas After Forming This Bearish Ascending Triangle?

June 20, 2017 - By Vivian Park

Investors sentiment increased to 2 in Q4 2016. Its up 1.25, from 0.75 in 2016Q3. It increased, as 0 investors sold Blackrock New York Municipal 2018 Term T shares while 1 reduced holdings. 1 funds opened positions while 1 raised stakes. 154,689 shares or 1.82% less from 157,556 shares in 2016Q3 were reported.
Blackrock has 24,229 shares for 0% of their portfolio. Moreover, Morgan Stanley has 0% invested in Blackrock New York Municipal 2018 Term T (NYSE:BLH) for 43,944 shares. Bancorporation Of America Corp De holds 0% or 23,630 shares in its portfolio. Royal Savings Bank Of Canada invested in 5,000 shares or 0% of the stock. Wells Fargo & Mn has 3,836 shares for 0% of their portfolio. Keeley Asset Mngmt invested in 0.03% or 45,476 shares. Citigroup holds 0% or 267 shares in its portfolio.

The stock of Blackrock New York Municipal 2018 Term T (BLH) formed an ascending triangle with $13.53 target or 9.00 % below today’s $14.87 share price. The 7 months triangle pattern indicates high risk for the $54.02 million company. If the $13.53 price target is reached, the company will be worth $4.86 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.07% or $0.01 on June 19, reaching $14.87. About shares traded. Blackrock New York Municipal 2018 Term T (NYSE:BLH) has declined 0.80% since June 20, 2016 and is downtrending. It has underperformed by 17.50% the S&P500.

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