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Ellington Residential Mortgage REIT Stock Forecast NYSE:EARN

$11.03 (1.57%)

Volume: 219k

Closed: Dec 07, 2021

Hollow Logo Score: -1.890

Ellington Residential Mortgage REIT Stock Forecast

$11.03 (1.57%)

Volume: 219k

Closed: Dec 07, 2021

Score Hollow Logo -1.890
Which way will EARN go? Request
Key Stats
Beta 0.68
Trailing Dividend Rate 11.96% ($1.30)
* 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 30 and the stock is currently not being overbought or oversold

Green day on Tuesday for Ellington Residential Mortgage REIT
(Updated on Dec 07, 2021)


Sell candidate since 2021-12-07

The Ellington Residential Mortgage REIT stock price gained 1.57% on the last trading day (Tuesday, 7th Dec 2021), rising from $10.86 to $11.03. , and 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 day the stock fluctuated 2.87% from a day low at $10.80 to a day high of $11.11. The price has fallen in 6 of the last 10 days and is down by -4.58% for this period. Volume fell on the last day by -31 thousand shares and in total, 219 thousand shares were bought and sold for approximately $2.42 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ellington Residential Mortgage REIT stock with a 90% probability to be traded between $10.43 and $12.22 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Signals & Forecast

There are mixed signals in the stock today. The Ellington Residential Mortgage REIT 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 $11.75. On a fall, the stock will find some support from the short-term average at $10.79. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, December 03, 2021, and so far it has risen 4.95%. 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.

Support, Risk & Stop-loss

Ellington Residential Mortgage REIT finds support from accumulated volume at $10.86 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 $0.31 between high and low, or 2.87%. For the last week, the stock has had a daily average volatility of 3.03%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Ellington Residential Mortgage REIT stock A Buy?

Ellington Residential Mortgage REIT 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.

Current score: -1.890

Predicted Opening Price for Ellington Residential Mortgage REIT of Wednesday, December 8, 2021

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

Fair opening price December 8, 2021 Current price
$10.98 $11.03 (Overvalued)
Sell Candidate Unchanged

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Analyst Ratings

On Nov 08, 2021 "BTIG Research" gave "" rating for EARN. The price target was changed from $11.98 to 0.8%.

Volatility and Risk
Daily Average Volatility: 3.03 %
Overall Risk: Very High High Medium Low Very Low
Volatility
3.03 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $11.78
Price: $11.03
Support: $10.86

EARN Insider Trading Show all Trades

INSIDER POWER

0.281

Last 100 transactions
Buy: 758 583 | Sell: 2 696 307 (Shares)
Date Action Amount Person Type
Sep 14, 2021 Buy 4 204 Miller David Common shares of beneficial interest
Sep 14, 2021 Buy 4 204 Allardice Robert B. Iii Common shares of beneficial interest
Sep 14, 2021 Buy 4 204 Simon Ronald I Common shares of beneficial interest
Sep 14, 2021 Buy 4 204 Mcbride Mary E Common shares
Jun 17, 2021 Sell 2 675 000 Blackstone Holdings Iii L.p. Common Stock
Show all Insider Trades
INSIDER POWER

0.281

Last 100 transactions
Buy: 758 583 | Sell: 2 696 307 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 11.29 2.36 %
11.17 1.28 %
11.10 0.62 %
Current price: 11.03
Support 10.86 -1.53 %
10.79 -2.19 %
10.67 -3.26 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 12.23 10.88 %
12.11 9.79 %
11.78 6.80 %
Current price 11.03
Support 10.86 -1.54%
10.70 -2.99%
10.58 -4.08%

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About Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities, including agency pools and agency collateralized mortgage obligations (CMOs), and investment and non-investment grade non-agency CMOs. The company has elected to be taxed as a real estate investment trust. As a ... Read more

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