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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Anworth Mortgage (NYSE:ANH) based on the price action in the company's shares. Yesterday's price range of $3.76 and $3.79 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 Anworth Mortgage may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Anworth Mortgage (NYSE:ANH) has potential upside of 26.0% based on a current price of $3.77 and analysts' consensus price target of $4.75. Anworth Mortgage shares should first meet resistance at the 50-day moving average (MA) of $4.04 and find additional resistance at the 200-day MA of $4.31.

In the past 52 weeks, shares of Anworth Mortgage have traded between a low of $3.73 and a high of $5.23 and closed yesterday at $3.77, which is 1% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.5%.

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 33.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle anworth mortgage

Ticker(s): ANH