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Watch for Invesco Mortgage to Potentially Pullback After Gaining 3.45% Yesterday

By Nick Russo

Invesco Mortgage (NYSE:IVR) traded in a range yesterday that spanned from a low of $2.67 to a high of $2.98. Yesterday, the shares gained 3.4%, which took the trading range above the 3-day high of $2.81 on volume of 12.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Invesco Mortgage has traded in a range of $1.82 to $18.30 and is now at $2.70, 48% above that low. The 200-day and 50-day moving averages have moved 1.48% lower and 12.31% lower over the past week, respectively.

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

Keywords: rebounders invesco mortgage

Ticker(s): IVR