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Possible Bearish Inside Day Candle Pattern Detected for Anworth Mortgage (NYSE:ANH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Anworth Mortgage (NYSE:ANH) based on the price action in the company's shares. Today's price range of $4.96 and $5.00 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 Anworth Mortgage may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Anworth Mortgage has traded in a range of $4.55 to $6.35 and is now at $4.96, 9% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 0.3%.

Anworth Mortgage (NYSE:ANH) defies analysts with a current price ($4.96) 4.3% above its average consensus price target of $4.75. The stock should find resistance at its 200-day moving average (MA) of $5.37, as well as support at its 50-day MA of $4.81.

Anworth Mortgage Asset Corporation invests in agency mortgage assets, including mortgage pass-through certificates, collateralized mortgage obligations, and other real estate securities. The Company acquires mortgage assets primarily in the secondary mortgage market. Anworth uses short-term borrowings as collateral to acquire additional mortgage assets.

SmarTrend recommended that its subscribers protect gains by selling shares of Anworth Mortgage on November 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $5.58. Since that call, shares of Anworth Mortgage have fallen 10.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle anworth mortgage

Ticker(s): ANH