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Watch for Continued Gains in Shares of Mfa Financial (MFA)

By Amy Schwartz

Shares of Mfa Financial (NYSE:MFA) traded today at $8.67, breaking its 52-week high. So far today approximately 267,000 shares have been exchanged, as compared to an average 30-day volume of 1.7 million shares.

Over the past year, Mfa Financial has traded in a range of $6.83 to $8.67 and is now at $8.64, 27% above that low. The 200-day and 50-day moving averages have moved 0.21% lower and 0.27% higher over the past week, respectively.

Mfa Financial (NYSE:MFA) defies analysts with a current price ($8.64) 4.0% above its average consensus price target of $8.29. The stock should discover initial support at its 200-day moving average (MA) of $6.88 and subsequent support at its 50-day MA of $6.82.

MFA Financial, Inc. is a real estate investment trust primarily engaged in the business of investing, on a leveraged basis, in residential mortgage assets, including residential mortgage-backed securities and residential whole loans.

SmarTrend recommended that subscribers consider buying shares of Mfa Financial on February 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.68. Since that recommendation, shares of Mfa Financial have risen 29.5%. We continue to monitor MFA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows mfa financial

Ticker(s): MFA