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Look for Shares of Annaly Capital Management to Potentially Pullback after Yesterday's 1.01% Rise

By Shiri Gupta

Annaly Capital Management (NYSE:NLY) traded in a range yesterday that spanned from a low of $10.79 to a high of $10.92. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $10.84 on volume of 4.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Annaly Capital Management on February 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.68. Since that recommendation, shares of Annaly Capital Management have risen 11.4%. We continue to monitor NLY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Annaly Capital Management have traded between a low of $8.25 and a high of $11.29 and are now at $10.89, which is 32% above that low price. The 200-day and 50-day moving averages have moved 0.14% higher and 0.36% higher over the past week, respectively.

Keywords: rebounders annaly capital management

Ticker(s): NLY