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Look for Shares of New Resident to Potentially Pullback after Yesterday's 1.93% Rise

By David Diaz

New Resident (NYSE:NRZ) traded in a range yesterday that spanned from a low of $15.58 to a high of $15.83. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $15.61 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.

In the past 52 weeks, shares of New Resident have traded between a low of $12.58 and a high of $17.86 and are now at $15.81, which is 26% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.8%.

SmarTrend is tracking the current trend status for New Resident and will alert subscribers who have NRZ in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders new resident

Ticker(s): NRZ