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Anworth Mortgage Looks to Continue to Trade Below its Annual-Low Share Price Today

By Shiri Gupta

Shares of Anworth Mortgage (NYSE:ANH) traded at a new 52-week low today of $3.62. This new low was reached on below average trading volume as 101,000 shares traded hands, while the average 30-day volume is approximately 503,000 shares.

Potential upside of 31.2% exists for Anworth Mortgage, based on a current level of $3.62 and analysts' average consensus price target of $4.75. The stock should find initial resistance at its 50-day moving average (MA) of $3.82 and further resistance at its 200-day MA of $4.16.

In the past 52 weeks, shares of Anworth Mortgage have traded between the current low of $3.62 and a high of $5.01 and are now at $3.62. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.2%.

Anworth Mortgage Asset Corporation invests in agency mortgage assets, including mortgage pass-through certificates, collateralized mortgage obligations, and other real estate securities. The Company acquires mortgage assets primarily in the secondary mortgage market. Anworth uses short-term borrowings as collateral to acquire additional mortgage assets.

SmarTrend recommended that its subscribers protect gains by selling shares of Anworth Mortgage on November 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $5.58. Since that call, shares of Anworth Mortgage have fallen 34.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows anworth mortgage

Ticker(s): ANH