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Possible Trend Reversal, New York Mtge Down on Heavy Volume (NYMT)

By James Quinn

Shares of New York Mtge are trading down 3.6% to $6.09 today on above average volume. Approximately 4.2 million shares have changed hands today vs. average 30-day volume of 1.1 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

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.

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 $6.09, 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

Keywords: unusual volume new york mtge

Ticker(s): NYMT