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Credit Acceptance Corporation Stock Forecast NASDAQ:CACC

$648.61 (0.86%)

Volume: 117k

Closed: Dec 03, 2021

Hollow Logo Score: 0.383

Credit Acceptance Corporation Stock Forecast

$648.61 (0.86%)

Volume: 117k

Closed: Dec 03, 2021

Score Hollow Logo 0.383
Which way will CACC go? Request
Stop-loss: $619.49 (-4.49%)
Key Stats
P/E Ratio 10.40
Beta 0.36
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 36 and the stock is currently not being overbought or oversold

Weaker technical forecast for Credit Acceptance Corporation as stock downgraded to Hold/Accumulate.
(Updated on Dec 03, 2021)


Buy or Hold candidate since 2021-12-02 Gain 0.86%

The Credit Acceptance Corporation stock price gained 0.86% on the last trading day (Friday, 3rd Dec 2021), rising from $643.11 to $648.61. , and has now gained 4 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 day the stock fluctuated 2.48% from a day low at $636.12 to a day high of $651.91. The price has been going up and down for this period, and there has been a 0.34% gain for the last 2 weeks. Volume fell on the last day by -18 thousand shares and in total, 117 thousand shares were bought and sold for approximately $76.19 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a wide and weak 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 9.33% during the next 3 months and, with a 90% probability hold a price between $686.43 and $782.75 at the end of this 3-month period.

Signals & Forecast

The Credit Acceptance Corporation stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $639.35 and $640.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, November 30, 2021, and so far it has risen 3.79%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss

Credit Acceptance Corporation finds support from accumulated volume at $648.52 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 $15.80 between high and low, or 2.48%. For the last week, the stock has had a daily average volatility of 3.26%.

Our recommended stop-loss: $619.49 (-4.49%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)

Is Credit Acceptance Corporation stock A Buy?

Credit Acceptance Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.383

Predicted Opening Price for Credit Acceptance Corporation of Monday, December 6, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 6, 2021 Current price
$645.55 $648.61 (Overvalued)
Hold/Accumulate Downgraded

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Analyst Ratings

On Nov 02, 2021 "JMP Securities" gave "$295.00 - $355.00" rating for CACC. The price target was changed from $596.05 to 0.4%.

Volatility and Risk
Daily Average Volatility: 3.26 %
Overall Risk: Very High High Medium Low Very Low
Volatility
3.26 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $650.01
Price: $648.61
Support: $648.52

CACC Insider Trading Show all Trades

INSIDER POWER

0.496

Last 100 transactions
Buy: 105 500 | Sell: 212 607 (Shares)
Date Action Amount Person Type
Nov 11, 2021 Sell 1 000 Smith Thomas W Common Stock
Nov 10, 2021 Sell 2 000 Smith Thomas W Common Stock
Nov 10, 2021 Sell 100 Smith Arthur L Common Stock
Nov 10, 2021 Sell 100 Smith Arthur L Common Stock
Nov 10, 2021 Sell 400 Smith Arthur L Common Stock
Show all Insider Trades
INSIDER POWER

0.496

Last 100 transactions
Buy: 105 500 | Sell: 212 607 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 661.34 1.96 %
655.31 1.03 %
651.58 0.46 %
Current price: 648.61
Support 639.51 -1.40 %
635.78 -1.98 %
629.75 -2.91 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 675.87 4.20 %
670.30 3.34 %
650.01 0.22 %
Current price 648.61
Support 648.52 -0.0139%
603.76 -6.91%
596.12 -8.09%

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About Credit Acceptance Corporation

Credit Acceptance Credit Acceptance Corp. provides automobile dealers financing programs, and related products and services. It advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers. The company also engages in the business of reinsuring coverage under vehicle service contracts sold to consumers by dealers on vehicles financed... Read more

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