• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Dynex Capital (NYSE:DX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dynex Capital (NYSE:DX) based on the price action in the company's shares. Yesterday's price range of $16.31 and $16.43 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. Traders and investors interested in shares of Dynex Capital may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Dynex Capital, Inc. is a real estate investment trust. The Company invests in mortgage loans and securities on a leveraged basis and it has investments in securitized residential and commercial mortgage loans. Dynex Capital finances its investments through re-purchase agreements, securitization financing, and equity capital in the State of Virginia.

Over the past year, Dynex Capital has traded in a range of $0.60 to $17.41 and closed yesterday at $16.41, 2,635% above that low. Over the past week, the 200-day moving average (MA) has gone up 4.8% while the 50-day MA has advanced 1.3%.

Dynex Capital (NYSE:DX) defies analysts with a current price ($16.41) 57.7% above its average consensus price target of $6.94. The stock should find initial support at its 50-day moving average (MA) of $15.47 and further support at its 200-day MA of $8.64.

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

Keywords: bullish am inside day candle dynex capital

Ticker(s): DX