BlackRock New York Municipal Bond Trust (BQH) Could Burn Your Portfolio. The Stock Formed Bearish Multiple Bottom Chart Pattern

July 16, 2018 - By Jack Shaw

Investors sentiment decreased to 1 in 2018 Q1. Its down 0.33, from 1.33 in 2017Q4. It worsened, as 1 investors sold BlackRock New York Municipal Bond Trust shares while 3 reduced holdings. 4 funds opened positions while 0 raised stakes. 154,674 shares or 23.41% more from 125,338 shares in 2017Q4 were reported.
Citigroup Incorporated reported 350 shares. Morgan Stanley holds 0% or 14,596 shares in its portfolio. Wolverine Asset Mgmt reported 0% stake. Rmb Cap Mgmt Ltd Liability Company reported 13,879 shares. Wells Fargo & Mn invested in 0% or 8,896 shares. Royal National Bank & Trust Of Canada invested in 0% or 8,585 shares. Bank Of America De stated it has 0% in BlackRock New York Municipal Bond Trust (NYSE:BQH). Focused Wealth Management invested in 56,089 shares.

The stock of BlackRock New York Municipal Bond Trust (BQH) shows a multiple bottoms pattern with $12.02 target or 8.00 % below today’s $13.06 share price. The 8 months chart pattern indicates high risk for the $36.57 million company. It was reported on Jul, 16 by If the $12.02 price target is reached, the company will be worth $2.93 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

It closed at $13.06 lastly. It is down 7.70% since July 16, 2017 and is downtrending. It has underperformed by 20.27% the S&P500.

BlackRock New York Municipal Bond Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc. The company has market cap of $36.57 million. The fund is managed by BlackRock Advisors, LLC. It has a 23.2 P/E ratio. It invests in the fixed income markets of United States.

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