It Seems BlackRock Science and Technology Trust (BST) Will Go Down. Formed A Few Months Bearish Ascending Triangle

September 16, 2018 - By Darrel Chase

The stock of BlackRock Science and Technology Trust (BST) formed an ascending triangle with $32.64 target or 7.00 % below today’s $35.10 share price. The 6 months triangle pattern indicates high risk for the $ company. If the $32.64 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 decreased 1.18% or $0.42 during the last trading session, reaching $35.1. About 65,778 shares traded. BlackRock Science and Technology Trust (NYSE:BST) has risen 46.20% since September 16, 2017 and is uptrending. It has outperformed by 30.58% the S&P500.

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