Ellington Financial Inc. Stock Forecast
Ellington Financial Inc. stock price down 2.78% on Friday
(Updated on Jun 28, 2024)
The Ellington Financial Inc. stock price fell by -2.78% on the last day (Friday, 28th Jun 2024) from $24.80 to $24.11. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.83% from a day low at $24.11 to a day high of $24.31. The price has been going up and down for this period, and there has been a -1.68% loss for the last 2 weeks. Volume has increased on the last day by 2 thousand 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 $48.15 thousand.
The stock has broken the narrow and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $24.19. A reaction back to this level may hold a second chance to get out before further falls.
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EFC-PC Signals & Forecast
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. The Ellington Financial Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $24.79 and $24.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -3.44%. Further fall is indicated until a new bottom pivot has been found. Ellington Financial 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.
Support, Risk & Stop-loss for Ellington Financial Inc. stock
Ellington Financial Inc. finds support from accumulated volume at $24.05 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 $0.200 between high and low, or 0.83%. For the last week the stock has had daily average volatility of 0.349%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EFC-PC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ellington Financial Inc. to open at $24.18, and during the day (based on 14 day Average True Range), to move between $23.90 and $24.32, which gives a possible trading interval of +/-$0.212 (+/-0.88%) up or down from last closing price. If Ellington Financial Inc. takes out the full calculated possible swing range there will be an estimated 1.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.05 (0.25%) than the resistance at $24.22 (0.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ellington Financial Inc. stock A Buy?
The Ellington Financial Inc. stock holds several negative signals and despite the positive trend, we believe Ellington Financial Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.443 Sell Candidate Unchanged
Predicted Opening Price for Ellington Financial Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $24.18 ( 0.277%) | $24.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EFC-PC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.38 | 1.11% |
| R2 | 24.30 | 0.790% |
| R1 | 24.25 | 0.594% |
| Price | 24.11 | |
| S1 | 24.10 | -0.0404% |
| S2 | 24.05 | -0.236% |
| S3 | 23.98 | -0.554% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.43 | 1.33% |
| R2 | 24.40 | 1.20% |
| R1 | 24.22 | 0.456% |
| Price | 24.11 | |
| S1 | 24.05 | -0.249% |
| S2 | 24.00 | -0.456% |
| S3 | 23.62 | -2.03% |
EFC-PC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jun 28, 2024 | $0.539 | 2.24% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Mar 27, 2024 | $0.539 | 2.20% |
| 3 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.539 | 2.25% |
| 4 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | $0.539 | 2.33% |
| 5 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | $0.539 | 2.46% |
FAQ
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