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Possible Bearish Inside Day Candle Pattern Detected for American Capital Agency (NASDAQ:AGNC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in American Capital Agency (NASDAQ:AGNC) based on the price action in the company's shares. Today's price range of $19.33 and $19.47 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of American Capital Agency may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

American Capital Agency Corporation is a real estate investment trust. The Trust invests exclusively in agency pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity.

In the past 52 weeks, American Capital Agency share prices have been bracketed by a low of $15.69 and a high of $20.93 and are now at $19.45, 24% above that low price. The 200-day and 50-day moving averages have moved 0.07% lower and 0.12% higher over the past week, respectively.

Potential upside of 5.9% exists for American Capital Agency, based on a current level of $19.45 and analysts' average consensus price target of $20.59. The stock should discover initial support at its 50-day moving average (MA) of $18.48 and subsequent support at its 200-day MA of $18.37.

SmarTrend is monitoring the recent change of momentum in American Capital Agency. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of American Capital Agency in search of a potential trend change.

Keywords: bearish inside day candle american capital agency

Ticker(s): AGNC