• Return to Headlines

Bearish Moving Average Cross by Pennymac Mortgag (PMT)

By David Diaz

Pennymac Mortgag (NYSE:PMT) shares have crossed bearishly below their 10-day moving average of $21.14 on a volume of 178K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Pennymac Mortgag have traded between a low of $16.97 and a high of $21.42 and are now at $20.86, which is 23% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.2%.

SmarTrend is tracking the current trend status for Pennymac Mortgag and will alert subscribers who have PMT in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses pennymac mortgag

Ticker(s): PMT