WATCHING $ECPG for ENTRY TARGET @ 42.31
I’m practicing to nail my entries even better… if target hits I will take a position and this one seems to make some nice waves 🌊
If there's any ticker symbol you'd like me to determine a good entry price just comment below and I'll do as many as time permits.
Encore Capital Group Inc is a specialty finance company. It provides debt recovery solutions for consumers and property owners across a broad range of financial assets. The company purchase portfolios of defaulted consumer receivables at deep discounts to face value and manage them by working with individuals as they repay their obligations and work toward...
With growth and inflation rising, leading to a steeper yield curve, financials should continue to perform. One name that sold off meaningfully last week was ECPG. The debt collector should continue to do well in the immediate term given the macro tailwinds to the sector. I'd be a small buyer here, playing for a return to the recent range.
Not the preference to catch these uptrends a little late but it is possible to make some profits.
MACD looks great and RSI is decent.
Once the trade hits TP1 or the orange line, there are more options:
1) move SL to Breakeven and extend targets
2) take profit on half position at an R of 1.08
3) move SL to Breakeven and hold until valid reason to exit
ECPG is well placed from both a fundamental and technical position. Had a very strong rebound in September/October before trading down in late October/November. Like the set-up heading into Q1 as Govt support runs off, as well as Balance Sheet strength of business. While there is yet to be a sustained technical position the fundamentals are very positive. Am long...
Over the last 20 years, total revolving credit owned and securitized is just under $1.1trillion. The charge off rate going back 20 years. In the last crises, we peaked at +%10.5. This is directly correlated to defatling or (180+ days= default). With continuing claims as the independent variable, the charge-off rate is thus dependent. So, for every 1+ million in...
** Comments and Likes are appreciated; Desperate for Subscribers too! **
What I see...
+ Prices retested $30 Resistance line 3 times since mid-March dip
+ 4th re-test broke above the Resistance under the shadow of earnings
+ MACD is stepping into positive zone
+ RSI is rising at 60
+ High vol for 3 days on a row
- Long upper shadow on trigger bar
- Both faster...
HFTs rarely trade a stock more than one day. ECPG has 2 days of HFT action moving the stock with strong momentum with high volume. Often VWAP orders from smaller funds will trigger after an HFT run day. The stock breached resistance but is at risk for professional traders taking profits. ECPG is an S&P 500 index component.
