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Bullish Moving Average Cross by Pennymac Finan-A (PFSI)

By Nick Russo

Pennymac Finan-A (NYSE:PFSI) crossed over its 10-day moving average of $30.75 on a volume of 215K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Pennymac Finan-A have traded between a low of $18.77 and a high of $32.04 and are now at $30.93, which is 65% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 3.1%.

SmarTrend recommended that subscribers consider buying shares of Pennymac Finan-A on June 24th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.20. Since that recommendation, shares of Pennymac Finan-A have risen 36.9%. We continue to monitor PFSI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses pennymac finan-a

Ticker(s): PFSI