New York Mortgage Trust, Inc. Stock Forecast
New York Mortgage Trust, Inc. stock price ended at $20.16 on Friday, after losing 0.149%.
(Updated on Jun 28, 2024)
The New York Mortgage Trust, Inc. stock price fell by -0.149% on the last day (Friday, 28th Jun 2024) from $20.19 to $20.16. During the last trading day the stock fluctuated 0.545% from a day low at $20.15 to a day high of $20.26. The price has risen in 7 of the last 10 days and is up by 0.8% over the past 2 weeks. Volume has increased on the last day by 4 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 thousand shares were bought and sold for approximately $134.08 thousand.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect New York Mortgage Trust, Inc. stock with a 90% probability to be traded between $19.88 and $20.64 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NYMTL Signals & Forecast
The New York Mortgage Trust, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $20.26. On a fall, the stock will find some support from the long-term average at approximately $20.00. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -1.06%. Further fall is indicated until a new bottom pivot has been found. New York Mortgage Trust, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for New York Mortgage Trust, Inc. stock
New York Mortgage Trust, Inc. finds support from accumulated volume at $19.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.110 between high and low, or 0.545%. For the last week the stock has had daily average volatility of 0.728%.
Our recommended stop-loss: $19.45 (-3.51%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (NYMTL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect New York Mortgage Trust, Inc. to open at $20.19, and during the day (based on 14 day Average True Range), to move between $20.00 and $20.32, which gives a possible trading interval of +/-$0.163 (+/-0.81%) up or down from last closing price. If New York Mortgage Trust, Inc. takes out the full calculated possible swing range there will be an estimated 1.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.26 (0.50%) than the support at $19.95 (1.04%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is New York Mortgage Trust, Inc. stock A Buy?
New York Mortgage Trust, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.865 Hold/Accumulate Unchanged
Predicted Opening Price for New York Mortgage Trust, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $20.19 ( 0.149%) | $20.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NYMTL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.30 | 0.694% |
| R2 | 20.26 | 0.486% |
| R1 | 20.23 | 0.357% |
| Price | 20.16 | |
| S1 | 20.15 | -0.0596% |
| S2 | 20.12 | -0.188% |
| S3 | 20.08 | -0.396% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.38 | 1.07% |
| R2 | 20.31 | 0.744% |
| R1 | 20.26 | 0.496% |
| Price | 20.16 | |
| S1 | 19.95 | -1.04% |
| S2 | 19.83 | -1.61% |
| S3 | 19.65 | -2.53% |
NYMTL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2024 | Jul 01, 2024 | Jul 15, 2024 | $0.430 | 2.13% |
| 2 | Mar 13, 2024 | Mar 28, 2024 | Apr 15, 2024 | $0.430 | 2.20% |
| 3 | Dec 14, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.430 | 2.20% |
| 4 | Sep 11, 2023 | Sep 28, 2023 | Oct 15, 2023 | $0.430 | 2.34% |
| 5 | Jun 06, 2023 | Jun 29, 2023 | Jul 15, 2023 | $0.430 | 2.33% |
FAQ
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