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New York Mtge Falls 2.53% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

New York Mtge (NASDAQ:NYMT) traded in a range yesterday that spanned from a low of $6.08 to a high of $6.17. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $6.28 on volume of 8.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of New York Mtge have traded between a low of $5.35 and a high of $6.54 and are now at $6.16, which is 15% 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%.

SmarTrend recommended that subscribers consider buying shares of New York Mtge on May 4th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.13. Since that recommendation, shares of New York Mtge have risen 3.1%. We continue to monitor NYMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders new york mtge

Ticker(s): NYMT