Eagle Point Credit Company Inc. Stock Forecast
Eagle Point Credit Company Inc. stock price down 0.134% on Friday
(Updated on Jun 28, 2024)
The Eagle Point Credit Company Inc. stock price fell by -0.134% on the last day (Friday, 28th Jun 2024) from $22.36 to $22.33. During the last trading day the stock fluctuated 0.426% from a day low at $22.28 to a day high of $22.37. The price has fallen in 5 of the last 10 days and is down by -0.34% for this period. Volume has increased on the last day by 419 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately $51.67 thousand.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $22.30 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Eagle Point Credit Company Inc. stock with a 90% probability to be traded between $22.73 and $23.40 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.
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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.
Golden Star
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
Fair opening price July 1, 2024 | Current price |
---|---|
$22.33 ( 0.0224%) | $22.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECCC
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 22.42 | 0.403% |
R2 | 22.38 | 0.241% |
R1 | 22.36 | 0.140% |
Price | 22.33 | |
S1 | 22.29 | -0.185% |
S2 | 22.27 | -0.285% |
S3 | 22.23 | -0.448% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 22.43 | 0.448% |
R2 | 22.40 | 0.313% |
R1 | 22.37 | 0.179% |
Price | 22.33 | |
S1 | 22.22 | -0.493% |
S2 | 22.06 | -1.21% |
S3 | 22.02 | -1.39% |
ECCC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 10, 2024 | Sep 10, 2024 | Sep 30, 2024 | $0.135 | 0.606% |
2 | Aug 12, 2024 | Aug 12, 2024 | Aug 30, 2024 | $0.135 | 0.606% |
3 | May 15, 2024 | Jul 11, 2024 | Jul 31, 2024 | $0.135 | 0.606% |
4 | Feb 13, 2024 | Jun 10, 2024 | Jun 28, 2024 | $0.135 | 0.606% |
5 | Feb 13, 2024 | May 10, 2024 | May 31, 2024 | $0.135 | 0.606% |
FAQ
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