Encore Capital Group Inc Stock Forecast
Encore Capital Group Inc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Encore Capital Group Inc stock price gained 0.753% on the last trading day (Friday, 3rd May 2024), rising from $42.50 to $42.82. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.37% from a day low at $42.82 to a day high of $43.41. The price has risen in 6 of the last 10 days and is up by 0.28% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 56 thousand more shares were traded than the day before. In total, 167 thousand shares were bought and sold for approximately $7.13 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 -19.43% during the next 3 months and, with a 90% probability hold a price between $30.85 and $35.92 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
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.62%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Encore Capital Group Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $43.60. On a fall, the stock will find some support from the short-term average at $41.95. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Encore Capital Group Inc stock
Encore Capital Group Inc finds support from accumulated volume at $42.06 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 $0.585 between high and low, or 1.37%. For the last week, the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: $40.63 (-5.11%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (ECPG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Encore Capital Group Inc to open at $43.02, and during the day (based on 14 day Average True Range), to move between $41.48 and $44.16, which gives a possible trading interval of +/-$1.34 (+/-3.14%) 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 6.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $42.06 (1.77%) than the resistance at $46.06 (7.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Encore Capital Group Inc will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.94. We will update the financials statements for Encore Capital Group Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.13% in the first trading day after earnings release.
Is Encore Capital Group Inc stock A Buy?
Encore Capital Group Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.068 Hold/Accumulate Upgraded
Predicted Opening Price for Encore Capital Group Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $43.02 ( 0.455%) | $42.82 |
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 | 43.60 | 1.82 % | |
| R2 | 43.38 | 1.30 % | ||
| R1 | 43.24 | 0.98 % | ||
| Current price: | 42.82 | |||
| Support | S1 | 42.79 | -0.0665 % | |
| S2 | 42.65 | -0.389 % | ||
| S3 | 42.43 | -0.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.73 | 23.14 % | |
| R2 | 48.18 | 12.52 % | ||
| R1 | 46.06 | 7.57 % | ||
| Current price | 42.82 | |||
| Support | S1 | 42.06 | -1.77% | |
| S2 | 41.64 | -2.76% | ||
| S3 | 40.54 | -5.32% |
FAQ
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