Black Stone Minerals LP (BSM): Price Now Near $9.96; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for BSM

At the time of this writing, BSM (Get Ratings)’s price is down $-0.06 (-0.6%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as BSM has now gone down 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Out of Petroleum and Natural Gas stocks, BSM ranks 19th in regards to today’s price percentage change.

BSM’s Technical Outlook on the Daily Chart

Currently, BSM’s price is up $0.02 (0.2%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Black Stone Minerals LP’s price action over the past 90 days can be seen via the chart below.