In the past week, ECRID Inc (OTCMKTS:ECDD) has experienced pretty tough times in the capital markets and that can be gauged from the price action in its stock. Due to the steady selloff in the stock, the stock has tanked by as much as 14% during the period.
Market Action
On Friday, ECDD stock ended flat at $0.20 with 51 shares, compared to its average volume of 5.4K shares. The stock moved within a range of $0.2000 – 0.2000 after opening trade at $0.20.
ECRID/ResMac Mortgage strikes a deal that can change the entire Credit Industry
However, it should be noted that last week on May 26 the company was actually in the news after it announced that it had decided to go into a collaboration with the firm ResMac Mortgage. As per the provisions of the collaboration, the two companies are going to help millions of Americans who find it difficult to get mortgages to become homeowners.
It was a major new announcement from the company and it is going to be interesting to see how investors react to the whole thing. The new Credit Bureau from ECRID is going to offer solutions that will help Americans in fulfilling their financial goals and eventually create wealth. It may be a good idea at this point for investors to consider adding the stock to their watch lists and watch for further developments. It will be interesting to see if the stock gets any traction today.
Traders Note
ECDD stock is trading below the 20-Day and 50-Day Moving averages of $0.2182 and $0.2345 respectively. Moreover, the stock is trading in the neutral zone with RSI standing at 44.
 Stock In Focus After Recent Development){kind=link}