Eagle Point Credit Co Inc. 6.6875% NT 28 Stock Forecast

Eagle Point Credit Co Inc. 6.6875% NT 28 stock price ended at $24.36 on Friday, after gaining 0.247%.
(Updated on May 17, 2024)

ECCX Signals & Forecast

The Eagle Point Credit Co Inc. 6.6875% NT 28 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 $24.29 and $24.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 1.16%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Eagle Point Credit Co Inc. 6.6875% NT 28 has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Wednesday, May 15, 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 Co Inc. 6.6875% NT 28 stock

Eagle Point Credit Co Inc. 6.6875% NT 28 finds support from accumulated volume at $24.21 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 $0.296 between high and low, or 1.22%. For the last week the stock has had daily average volatility of 1.09%.

Our recommended stop-loss: $23.00 (-5.59%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)

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

For the upcoming trading day on Monday, 20th we expect Eagle Point Credit Company Inc. 6.6875% NT 28 to open at $24.35, and during the day (based on 14 day Average True Range), to move between $24.10 and $24.62, which gives a possible trading interval of +/-$0.261 (+/-1.07%) up or down from last closing price. If Eagle Point Credit Company Inc. 6.6875% NT 28 takes out the full calculated possible swing range there will be an estimated 2.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $24.46 (0.41%) than the support at $24.21 (0.62%), 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. 6.6875% NT 28 stock A Buy?

Eagle Point Credit Co Inc. 6.6875% NT 28 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.

Current score: 0.403 Hold/Accumulate Unchanged

Predicted Opening Price for Eagle Point Credit Company Inc. 6.6875% NT 28 of Monday, May 20, 2024

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