Ellington Residential Mortgage REIT Stock Forecast
Ellington Residential Mortgage REIT stock price ended at $6.72 on Thursday, after losing 0.149%.
(Updated on Apr 25, 2024)
The Ellington Residential Mortgage REIT stock price fell by -0.149% on the last day (Thursday, 25th Apr 2024) from $6.73 to $6.72. During the last trading day the stock fluctuated 1.36% from a day low at $6.64 to a day high of $6.73. The price has fallen in 7 of the last 10 days but is still up by 0.6% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 thousand shares and in total, 160 thousand shares were bought and sold for approximately $1.07 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.88% during the next 3 months and, with a 90% probability hold a price between $7.80 and $8.66 at the end of this 3-month period.
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EARN Signals & Forecast
The Ellington Residential Mortgage REIT stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6.70 and $6.66. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -3.86%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Ellington Residential Mortgage REIT stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.19 and $5.99. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ellington Residential Mortgage REIT finds support just below today's level at $6.19. If this is broken, then the next support from accumulated volume will be at $5.99 and $5.55.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0900 between high and low, or 1.36%. For the last week the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: $6.43 (-4.39%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (EARN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ellington Residential Mortgage REIT to open at $6.70, and during the day (based on 14 day Average True Range), to move between $6.57 and $6.87, which gives a possible trading interval of +/-$0.154 (+/-2.29%) up or down from last closing price. If Ellington Residential Mortgage REIT takes out the full calculated possible swing range there will be an estimated 4.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.76 (0.60%) than the support at $6.19 (7.89%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ellington Residential Mortgage REIT stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ellington Residential Mortgage REIT stock to perform well in the short-term.
Current score: 3.021 Buy Candidate Unchanged
Predicted Opening Price for Ellington Residential Mortgage REIT of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $6.70 ( 0.347%) | $6.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EARN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.79 | 0.99 % | |
| R2 | 6.75 | 0.480 % | ||
| R1 | 6.73 | 0.164 % | ||
| Current price: | 6.72 | |||
| Support | S1 | 6.66 | -0.86 % | |
| S2 | 6.64 | -1.17 % | ||
| S3 | 6.61 | -1.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.99 | 4.02 % | |
| R2 | 6.81 | 1.34 % | ||
| R1 | 6.76 | 0.595 % | ||
| Current price | 6.72 | |||
| Support | S1 | 6.19 | -7.89% | |
| S2 | 5.99 | -10.86% | ||
| S3 | 5.55 | -17.41% |
EARN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 28, 2024 | $0.0800 | 1.19% |
| 2 | Mar 07, 2024 | Mar 27, 2024 | Apr 25, 2024 | $0.0800 | 1.19% |
| 3 | Feb 07, 2024 | Feb 28, 2024 | Mar 25, 2024 | $0.0800 | 1.14% |
| 4 | Jan 08, 2024 | Jan 30, 2024 | Feb 26, 2024 | $0.0800 | 1.32% |
| 5 | Dec 28, 2023 | Dec 28, 2023 | Jan 25, 2024 | $0.0800 | 1.30% |
FAQ
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