• Return to Headlines

Watch for Redwood Trust to Potentially Pullback After Gaining 1.05% Yesterday

By Shiri Gupta

Redwood Trust (NYSE:RWT) traded in a range yesterday that spanned from a low of $16.36 to a high of $16.45. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $16.30 on volume of 135,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Redwood Trust share prices have been bracketed by a low of $14.29 and a high of $17.28 and are now at $16.42, 15% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Redwood Trust and will alert subscribers who have RWT in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders redwood trust

Ticker(s): RWT