Encore Capital Group Inc Stock Forecast
Encore Capital Group Inc stock downgraded to Sell Candidate
(Updated on Apr 18, 2024)
The Encore Capital Group Inc stock price gained 1.02% on the last trading day (Thursday, 18th Apr 2024), rising from $41.22 to $41.64. During the last trading day the stock fluctuated 2.09% from a day low at $41.16 to a day high of $42.02. The price has been going up and down for this period, and there has been a -3.9% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 50 thousand more shares were traded than the day before. In total, 296 thousand shares were bought and sold for approximately $12.33 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -17.77% during the next 3 months and, with a 90% probability hold a price between $33.07 and $38.55 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ECPG Signals & Forecast
There are mixed signals in the stock today. The Encore Capital Group Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $42.27 and $45.59. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.71%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Encore Capital Group Inc stock
Encore Capital Group Inc finds support from accumulated volume at $41.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.86 between high and low, or 2.09%. For the last week, the stock has had daily average volatility of 4.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ECPG) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Encore Capital Group Inc to open at $41.61, and during the day (based on 14 day Average True Range), to move between $40.08 and $43.20, which gives a possible trading interval of +/-$1.56 (+/-3.75%) up or down from last closing price. If Encore Capital Group Inc takes out the full calculated possible swing range there will be an estimated 7.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $41.22 (1.01%) than the resistance at $45.61 (9.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Encore Capital Group Inc stock A Buy?
Encore Capital Group Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.347 Sell Candidate Downgraded
Predicted Opening Price for Encore Capital Group Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $41.61 ( 0.0805%) | $41.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECPG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.47 | 1.99 % | |
| R2 | 42.14 | 1.20 % | ||
| R1 | 41.94 | 0.709 % | ||
| Current price: | 41.64 | |||
| Support | S1 | 41.28 | -0.87 % | |
| S2 | 41.07 | -1.36 % | ||
| S3 | 40.75 | -2.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.18 | 15.71 % | |
| R2 | 46.06 | 10.61 % | ||
| R1 | 45.61 | 9.53 % | ||
| Current price | 41.64 | |||
| Support | S1 | 41.22 | -1.01% | |
| S2 | 40.54 | -2.64% | ||
| S3 | 0 | . |
FAQ
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