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Pennymac Mortgag Bearish Moving Average Crossover Alert (PMT)

By David Diaz

Today, shares of Pennymac Mortgag (NYSE:PMT) have crossed bearishly below their 10-day moving average of $19.32 on a volume of 241K 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, Pennymac Mortgag share prices have been bracketed by a low of $14.87 and a high of $19.67 and are now at $18.94, 27% above that low price. The 200-day and 50-day moving averages have moved 0.21% higher and 0.62% higher over the past week, respectively.

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