• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Invesco Mortgage (NYSE:IVR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Invesco Mortgage (NYSE:IVR) based on the price action in the company's shares. Yesterday's price range of $2.13 and $2.62 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 Invesco Mortgage may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Invesco Mortgage Capital Inc. operates as a real estate investment trust. The Trust acquires, finances, and manages residential and commercial mortgage-backed securities and mortgage loans.

Invesco Mortgage (NYSE:IVR) has potential upside of 626.0% based on a current price of $2.29 and analysts' consensus price target of $16.62. The stock should run into initial resistance at its 50-day moving average (MA) of $13.23 and subsequent resistance at its 200-day MA of $15.38.

Over the past year, Invesco Mortgage has traded in a range of $1.82 to $18.30 and closed yesterday at $2.29, 26% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 9.8% while the 200-day MA has slid 2.1%.

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

Keywords: bullish am inside day candle invesco mortgage

Ticker(s): IVR