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Possible Bearish Inside Day Candle Pattern Detected for Chimera Inv Corp (NYSE:CIM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Chimera Inv Corp (NYSE:CIM) based on the price action in the company's shares. Yesterday's price range of $18.04 and $18.14 is within the prior day'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 Chimera Inv Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Chimera Inv Corp share prices have moved between a 52-week high of $20.90 and a 52-week low of $14.70 and closed yesterday at 23% above that low price at $18.06 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Chimera Investment Corporation is a specialty finance company. The Company invests in residential mortgage loans, residential mortgage-backed securities, real estate-related securities, and various other asset classes.

Chimera Inv Corp has overhead space with shares priced $18.06, or 1.7% below the average consensus analyst price target of $18.38. The stock should find initial support at its 50-day moving average (MA) of $13.77 and further support at its 200-day MA of $13.67.

SmarTrend is tracking the current trend status for Chimera Inv Corp and will alert subscribers who have CIM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle chimera inv corp

Ticker(s): CIM