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SmarTrend Watching for Potential Rebound in Shares of Annaly Capital Management After 1.52% Loss

By Nick Russo

Annaly Capital Management (NYSE:NLY) traded in a range yesterday that spanned from a low of $11.64 to a high of $11.85. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $11.73 on volume of 5.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Annaly Capital Management has traded in a range of $8.25 to $12.06 and is now at $11.71, 42% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Annaly Capital Management on March 22nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.15. Since that recommendation, shares of Annaly Capital Management have risen 6.5%. We continue to monitor NLY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders annaly capital management

Ticker(s): NLY