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New York Mtge Falls 3.07% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

New York Mtge (NASDAQ:NYMT) traded in a range yesterday that spanned from a low of $6.00 to a high of $6.11. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $6.15 on volume of 10.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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

In the past 52 weeks, New York Mtge share prices have been bracketed by a low of $5.35 and a high of $6.54 and are now at $6.10, 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders new york mtge

Ticker(s): NYMT