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

By Amy Schwartz

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 $21.41 and $21.64 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 (NASDAQ:AGNC) is currently priced 13.2% above its average consensus analyst price target of $18.77. The stock should find initial support at its 50-day moving average (MA) of $18.48 and further support at its 200-day MA of $18.37.

In the past 52 weeks, shares of American Capital Agency have traded between a low of $15.69 and a high of $21.72 and are now at $21.63, which is 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

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.

SmarTrend recommended that subscribers consider buying shares of American Capital Agency on January 18th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.05. Since that recommendation, shares of American Capital Agency have risen 13.6%. We continue to monitor AGNC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle american capital agency

Ticker(s): AGNC