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SmarTrend Watching for Potential Pullback in Shares of Pennymac Finan-A After 4.67% Gain

By Amy Schwartz

Pennymac Finan-A (NYSE:PFSI) traded in a range yesterday that spanned from a low of $21.90 to a high of $22.99. Yesterday, the shares gained 4.7%, which took the trading range above the 3-day high of $22.33 on volume of 271,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Pennymac Finan-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Pennymac Finan-A in search of a potential trend change.

Pennymac Finan-A share prices have moved between a 52-week high of $25.20 and a 52-week low of $18.77 and are now trading 15% above that low price at $21.65 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Keywords: rebounders pennymac finan-a

Ticker(s): PFSI