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Possible Bearish Inside Day Candle Pattern Detected for Agnc Investment (NASDAQ:AGNC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Agnc Investment (NASDAQ:AGNC) based on the price action in the company's shares. Yesterday's price range of $16.11 and $16.25 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Agnc Investment may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Agnc Investment has overhead space with shares priced $16.18, or 13.7% below the average consensus analyst price target of $18.75. The stock should hit resistance at its 200-day moving average (MA) of $17.15, as well as support at its 50-day MA of $15.95.

Over the past year, Agnc Investment has traded in a range of $14.51 to $18.35 and closed yesterday at $16.18, 12% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

AGNC Investment Corp. operates and manages real estate investment trust. The Company invests in agency mortgage-backed securities on a leveraged basis and financed through collateralized borrowings structured such as repurchase agreements. AGNC Investment serves customers in the United States.

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

Keywords: bearish am inside day candle agnc investment

Ticker(s): AGNC