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Shares of Redwood Trust Has Risen Above Previous 52-Week High

By David Diaz

Shares of Redwood Trust (NYSE:RWT) traded today at $17.30, breaking its 52-week high. So far today approximately 111,000 shares have been exchanged, as compared to an average 30-day volume of 1.4 million shares.

There is potential upside of 4.5% for shares of Redwood Trust based on a current price of $17.23 and an average consensus analyst price target of $18.00. The stock should find initial support at its 50-day moving average (MA) of $16.70 and further support at its 200-day MA of $16.17.

Redwood Trust share prices have moved between a 52-week high of $17.30 and a 52-week low of $14.29 and are now trading 21% above that low price at $17.23 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

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 recommended that subscribers consider buying shares of Redwood Trust on January 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.05. Since that recommendation, shares of Redwood Trust have risen 7.4%. 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