• Return to Headlines

Look for Shares of Pennymac Finan-A to Potentially Rebound after Yesterday's 5.91% Sell Off

By Amy Schwartz

Pennymac Finan-A (NYSE:PFSI) traded in a range yesterday that spanned from a low of $33.95 to a high of $35.44. Yesterday, the shares fell 5.9%, which took the trading range below the 3-day low of $37.10 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Pennymac Finan-A share prices have moved between a 52-week high of $39.57 and a 52-week low of $20.36 and are now trading 72% above that low price at $34.97 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.8%.

SmarTrend is tracking the current trend status for Pennymac Finan-A and will alert subscribers who have PFSI in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders pennymac finan-a

Ticker(s): PFSI