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Possible Bullish Inside Day Candle Pattern Detected for Agnc Investment (NASDAQ:AGNC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Agnc Investment (NASDAQ:AGNC) based on the price action in the company's shares. Yesterday's price range of $18.86 and $18.97 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. Traders and investors interested in shares of Agnc Investment may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $18.95, Agnc Investment is currently 1.1% above its average consensus analyst price target of $18.75. Agnc Investment shares should first meet resistance at the 200-day moving average (MA) of $19.14 and find additional resistance at the 50-day MA of $19.14.

AGNC Investment Corp. operates and manages real estate investment trust. The Company invests in agency mortgage-backed securities on a leveraged basis and financed through collateralized borrowings structured such as repurchase agreements. AGNC Investment serves customers in the United States.

Agnc Investment share prices have moved between a 52-week high of $21.94 and a 52-week low of $17.84 and closed yesterday at 6% above that low price at $18.95 per share. The 200-day and 50-day moving averages have moved 0.13% lower and 0.10% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Agnc Investment and will alert subscribers who have AGNC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle agnc investment

Ticker(s): AGNC