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Recent 52-Week High Exceeded in Shares of Chimera Investment (CIM)

By James Quinn

Chimera Investment (NYSE:CIM) traded at a new 52-week high today of $19.93. So far today approximately 373,000 shares have been exchanged, as compared to an average 30-day volume of 1.2 million shares.

Chimera Investment (NYSE:CIM) is currently priced 10.6% above its average consensus analyst price target of $17.80. The stock should discover initial support at its 50-day moving average (MA) of $13.77 and subsequent support at its 200-day MA of $13.67.

Chimera Investment Corporation is a specialty finance company. The Company invests in residential mortgage loans, residential mortgage-backed securities, real estate-related securities and various other asset classes.

Chimera Investment share prices have moved between a 52-week high of $19.93 and a 52-week low of $10.89 and are now trading 83% above that low price at $19.92 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Chimera Investment on November 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.42. Since that recommendation, shares of Chimera Investment have risen 20.8%. We continue to monitor CIM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows chimera investment

Ticker(s): CIM