Can Blackrock Resources & Commodities Strategy Trust (BCX)’s Tomorrow be Different? The Stock Formed a Wedge Up Chart Pattern

December 7, 2017 - By Peter Erickson

Investors sentiment decreased to 1.37 in Q2 2017. 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.
Edge Wealth Mgmt Limited Liability Company accumulated 0.01% or 3,000 shares. Highlander Capital Mgmt Ltd Llc reported 0% of its portfolio in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX). Asset Mgmt holds 0.09% or 681,564 shares. Knightsbridge Asset Mgmt Limited Liability reported 1.33% in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX). Citadel Ltd Company holds 18,405 shares. Moreover, Pnc Financial Services Group Inc Inc Inc has 0% invested in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX) for 2,254 shares. Lazard Asset Mgmt Ltd Liability Com holds 5.51 million shares or 0.09% of its portfolio. Morgan Stanley has invested 0.01% in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX). Sii Investments Wi reported 0.01% stake. Fifth Third Financial Bank holds 0% of its portfolio in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX) for 1,851 shares. Stratos Wealth Partners invested in 194,049 shares or 0.08% of the stock. Advisory Alpha Ltd Co accumulated 0.39% or 157,758 shares. Thomas J Herzfeld Advsrs Inc owns 0.06% invested in Blackrock Resources & Commodities Strategy Trust (NYSE:BCX) for 15,756 shares. Delta Asset Mgmt Limited Liability Corp Tn accumulated 804 shares. Commonwealth Equity Service accumulated 52,218 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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