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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish 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 $19.96 and $20.01 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. Traders and investors interested in shares of American Capital Agency may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

American Capital Agency (NASDAQ:AGNC) has potential upside of 3.1% based on a current price of $19.97 and analysts' consensus price target of $20.59. The stock should discover initial support at its 50-day moving average (MA) of $18.48 and subsequent support at its 200-day MA of $18.37.

American Capital Agency share prices have moved between a 52-week high of $20.93 and a 52-week low of $15.69 and are now trading 27% above that low price at $19.97 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-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 February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.81. Since that recommendation, shares of American Capital Agency have risen 12.0%. We continue to monitor AGNC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle american capital agency

Ticker(s): AGNC