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

By Shiri Gupta

Shares of Redwood Trust (NYSE:RWT) traded today at $17.50, breaking its 52-week high. This new high was reached on above average trading volume as 914,000 shares traded hands, while the average 30-day volume is approximately 543,000 shares.

There is potential upside of 4.0% for shares of Redwood Trust based on a current price of $17.30 and an average consensus analyst price target of $18.00. The stock should find initial support at its 50-day moving average (MA) of $16.52 and further support at its 200-day MA of $15.60.

Redwood Trust share prices have moved between a 52-week high of $17.50 and a 52-week low of $14.29 and are now trading 21% above that low price at $17.30 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Redwood Trust, Inc. is an internally-managed specialty finance company focused on making credit sensitive investments in residential loans and other mortgage-related assets, as well as residential mortgage banking activities. For tax purposes, Redwood is structured as a REIT

SmarTrend is tracking the current trend status for Redwood Trust and will alert subscribers who have RWT in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows redwood trust

Ticker(s): RWT