Eagle Point Credit Company Inc. Stock Forecast

Eagle Point Credit Company Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

ECCW 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 $24.07. On a fall, the stock will find some support from the long-term average at approximately $23.93. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.579%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Friday, April 26, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 09, 2024.

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 $24.00 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.07%

Our recommended stop-loss: $23.10 (-3.95%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (ECCW) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Eagle Point Credit Company Inc. to open at $24.05, and during the day (based on 14 day Average True Range), to move between $23.79 and $24.31, which gives a possible trading interval of +/-$0.262 (+/-1.09%) 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 2.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $24.10 (0.21%) than the support at $24.00 (0.21%), 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?

Eagle Point Credit Company 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: -0.729 Hold/Accumulate Upgraded

Predicted Opening Price for Eagle Point Credit Company Inc. of Monday, May 20, 2024

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