Eagle Point Credit Company Inc. Stock Forecast

Red day on Friday for Eagle Point Credit Company Inc.
(Updated on Jun 28, 2024)

ECCC Signals & Forecast

The Eagle Point Credit Company Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $22.33. On a fall, the stock will find some support from the long-term average at approximately $22.32. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 0.90%. Further rise is indicated until a new top pivot has been found. 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). Eagle Point Credit Company Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Wednesday, April 17, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Eagle Point Credit Company Inc. stock

Eagle Point Credit Company Inc. finds support from accumulated volume at $22.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0950 between high and low, or 0.426%. For the last week the stock has had daily average volatility of 0.489%.

Our recommended stop-loss: $21.22 (-4.97%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (ECCC) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Eagle Point Credit Company Inc. to open at $22.33, and during the day (based on 14 day Average True Range), to move between $22.22 and $22.44, which gives a possible trading interval of +/-$0.113 (+/-0.51%) up or down from last closing price. If Eagle Point Credit Company Inc. takes out the full calculated possible swing range there will be an estimated 1.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.37 (0.18%) than the support at $22.22 (0.49%), 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 Eagle Point Credit Company Inc. stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Eagle Point Credit Company Inc. stock to perform well in the short-term period.

Current score: 2.261 Buy Candidate Unchanged

Predicted Opening Price for Eagle Point Credit Company Inc. of Monday, July 1, 2024

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