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After Yesterday's Rally of 1.49% Shares Could Potentially Pullback

By Shiri Gupta

Annaly Capital M (NYSE:NLY) traded in a range yesterday that spanned from a low of $10.45 to a high of $10.63. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $10.49 on volume of 2.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Annaly Capital M has traded in a range of $9.83 to $12.73 and is now at $10.52, 7% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Annaly Capital M on November 3rd, 2017 by issuing a Downtrend alert when the shares were trading at $11.26. Since that call, shares of Annaly Capital M have fallen 7.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders annaly capital m

Ticker(s): NLY