BlackRock Science and Technology Trust (BST) Draws Bearish Attention After Forming Bearish Ascending Triangle Chart Pattern

October 2, 2018 - By Adrian Mccoy

The stock of BlackRock Science and Technology Trust (BST) formed an ascending triangle with $34.66 target or 3.00 % below today’s $35.73 share price. The 6 months triangle pattern indicates high risk for the $ company. If the $34.66 price target is reached, the company will be worth $ 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 0.65% or $0.23 during the last trading session, reaching $35.73. About 85,844 shares traded. BlackRock Science and Technology Trust (NYSE:BST) has risen 46.20% since October 2, 2017 and is uptrending. It has outperformed by 30.58% the S&P500.

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