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Recent 52-Week High Exceeded in Shares of Armour Residential REIT (ARR)

By David Diaz

Armour Residential REIT (NYSE:ARR) traded today at a new 52-week high of $24.00. This new high was reached on below average trading volume as 87,000 shares traded hands, while the average 30-day volume is approximately 514,000 shares.

Armour Residential REIT share prices have moved between a 52-week high of $24.00 and a 52-week low of $2.60 and are now trading 822% above that low price at $23.98 per share. The 200-day and 50-day moving averages have moved 1.78% higher and 0.33% higher over the past week, respectively.

Armour Residential REIT (NYSE:ARR) is currently priced 11.0% above its average consensus analyst price target of $21.33. The stock should discover initial support at its 50-day moving average (MA) of $20.95 and subsequent support at its 200-day MA of $20.01.

ARMOUR Residential REIT Inc. invests primarily in hybrid adjustable-rate, adjustable-rate and fixed-rate residential mortgage-backed securities issued or guaranteed by a U.S. Government-chartered entity. The Company intends to elect and qualify to be taxed as a real estate investment trust commencing with their taxable year ending December 31, 2009.

SmarTrend recommended that subscribers consider buying shares of Armour Residential REIT on February 27th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.54. Since that recommendation, shares of Armour Residential REIT have risen 6.2%. We continue to monitor ARR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows armour residential reit

Ticker(s): ARR