What’s BlackRock Municipal Bond Trust (BBK) Downside After Forming Bearish Ascending Triangle Pattern?

July 14, 2018 - By Nellie Frank

Investors sentiment is 1.33 in 2018 Q1. Its the same as in 2017Q4. It is the same, as 5 investors sold BlackRock Municipal Bond Trust shares while 7 reduced holdings. only 7 funds opened positions while 9 raised stakes. 974,922 shares or 18.74% more from 821,052 shares in 2017Q4 were reported.
Limited Co holds 12,380 shares. Bridgecreek Invest Mgmt Ltd Company holds 16,250 shares or 0.05% of its portfolio. 46,816 were accumulated by Invesco Limited. Fiera Cap Corp holds 0.01% or 127,227 shares in its portfolio. Raymond James Financial Svcs Advisors reported 0% stake. First Allied Advisory Services Incorporated holds 0.01% of its portfolio in BlackRock Municipal Bond Trust (NYSE:BBK) for 11,737 shares. Van Eck Assoc reported 28,596 shares. Wells Fargo & Mn holds 0% or 11,155 shares in its portfolio. Pnc Serv Group reported 869 shares. Stratos Wealth Ptnrs Limited holds 0% in BlackRock Municipal Bond Trust (NYSE:BBK) or 1,039 shares. Advisors Asset, a Colorado-based fund reported 57,163 shares. National Bank & Trust Of America Corp De reported 41,369 shares. Moreover, Focused Wealth Inc has 0% invested in BlackRock Municipal Bond Trust (NYSE:BBK). Provise Management Grp Incorporated Lc stated it has 0.29% of its portfolio in BlackRock Municipal Bond Trust (NYSE:BBK). Nuveen Asset Management Limited Liability Company has 15,435 shares.

The stock of BlackRock Municipal Bond Trust (BBK) formed an ascending triangle with $13.93 target or 3.00 % below today’s $14.36 share price. The 8 months triangle pattern indicates high risk for the $151.11 million company. If the $13.93 price target is reached, the company will be worth $4.53M 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 0.44% or $0.06 during the last trading session, reaching $14.36. About 55,970 shares traded or 182.19% up from the average. BlackRock Municipal Bond Trust (NYSE:BBK) has declined 6.43% since July 14, 2017 and is downtrending. It has underperformed by 19.00% the S&P500.

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