Credit Acceptance Corporation Stock Forecast

Red day on Wednesday for Credit Acceptance Corporation
(Updated on Apr 24, 2024)

CACC Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.586%. 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. The Credit Acceptance Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $529.42 and $547.30. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Credit Acceptance Corporation stock

Credit Acceptance Corporation finds support from accumulated volume at $519.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $7.12 (1.37%) between high and low. For the last week, the stock has had daily average volatility of 1.95%.

Our recommended stop-loss: $496.69 (-4.89%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (CACC) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Credit Acceptance Corporation to open at $522.05, and during the day (based on 14 day Average True Range), to move between $509.99 and $534.45, which gives a possible trading interval of +/-$12.23 (+/-2.34%) up or down from last closing price. If Credit Acceptance Corporation takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $519.18 (0.58%) than the resistance at $554.51 (6.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Credit Acceptance Corporation stock A Buy?

Credit Acceptance Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.391 Hold/Accumulate Unchanged

Predicted Opening Price for Credit Acceptance Corporation of Thursday, April 25, 2024

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