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Possible Bullish Inside Day Candle Pattern Detected for Cypress Sharpridge Investments (NYSE:CYS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cypress Sharpridge Investments (NYSE:CYS) based on the price action in the company's shares. Today's price range of $8.08 and $8.18 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 Cypress Sharpridge Investments may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Cypress Sharpridge Investments have traded between a low of $5.88 and a high of $9.21 and are now at $8.12, which is 38% above that low price. The 200-day and 50-day moving averages have moved 0.06% higher and 0.39% higher over the past week, respectively.

Cypress Sharpridge Investments, Inc. is a specialty finance company that was created with the objective of achieving consistent risk-adjusted investment income. The Company invests on a leveraged basis exclusively in whole-pool residential mortgage pass-through securities for which the principal and interest payments are guaranteed.

Cypress Sharpridge Investments (NYSE:CYS) is currently priced 4.0% above its average consensus analyst price target of $7.79. The stock should find initial support at its 50-day moving average (MA) of $8.06 and further support at its 200-day MA of $7.61.

SmarTrend is tracking the current trend status for Cypress Sharpridge Investments and will alert subscribers who have CYS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle cypress sharpridge investments

Ticker(s): CYS