• Return to Headlines

Look for Shares of New Resident to Potentially Pullback after Yesterday's 1.10% Rise

By Nick Russo

New Resident (NYSE:NRZ) traded in a range yesterday that spanned from a low of $16.48 to a high of $16.67. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $16.53 on volume of 1.2 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 New Resident on September 20th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.20. Since that recommendation, shares of New Resident have risen 8.5%. We continue to monitor NRZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of New Resident have traded between a low of $13.63 and a high of $17.34 and are now at $16.60, which is 22% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Keywords: rebounders new resident

Ticker(s): NRZ