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Possible Bearish Inside Day Candle Pattern Detected for Two Harbors Inve (NYSE:TWO)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Two Harbors Inve (NYSE:TWO) based on the price action in the company's shares. Today's price range of $13.32 and $13.40 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 Two Harbors Inve may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 19.4% exists for Two Harbors Inve, based on a current level of $13.40 and analysts' average consensus price target of $16.00. The stock should find resistance at its 200-day moving average (MA) of $13.50, as well as support at its 50-day MA of $13.10.

In the past 52 weeks, Two Harbors Inve share prices have been bracketed by a low of $12.05 and a high of $16.27 and are now at $13.40, 11% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Two Harbors Investment Corporation is a real estate investment trust (REIT). The Company focuses on investing in, financing, and managing residential mortgage-backed securities, RMBS, and related investments. Two Harbors Investment serves customers in the United States.

SmarTrend is tracking the current trend status for Two Harbors Inve and will alert subscribers who have TWO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle two harbors inve

Ticker(s): TWO