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Redwood Trust: 52-Week High Recently Eclipsed (RWT)

By Amy Schwartz

Shares of Redwood Trust (NYSE:RWT) traded at a new 52-week high today of $17.43. Approximately 53,000 shares have changed hands today, as compared to an average 30-day volume of 421,000 shares.

Redwood Trust, Inc., a real estate investment trust, specializes in owning, financing, and credit-enhancing high-quality jumbo residential mortgages loans. The Trust also finances United States real estate through its mortgage backed securities and commercial loans portfolios.

Over the past year, Redwood Trust has traded in a range of $9.26 to $17.43 and is now at $17.30, 87% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.5%.

Redwood Trust (NYSE:RWT) is currently priced 0.3% above its average consensus analyst price target of $17.25. The stock should discover initial support at its 200-day moving average (MA) of $13.17 and subsequent support at its 50-day MA of $12.64.

SmarTrend recommended that subscribers consider buying shares of Redwood Trust on February 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.95. Since that recommendation, shares of Redwood Trust have risen 58.9%. We continue to monitor RWT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows redwood trust

Ticker(s): RWT