After reaching an important support level, Ellington Credit (EARN) could be a good stock pick from a technical perspective. EARN surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
Here is how Ellington Credit (EARN) and Innovative Industrial Properties (IIPR) have performed compared to their sector so far this year.
Ellington Credit (EARN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).