New York Mortgage Trust, Inc. Stock Forecast

Green day on Wednesday for New York Mortgage Trust, Inc.
(Updated on May 08, 2024)

NYMTM 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 $23.44. On a fall, the stock will find some support from the long-term average at approximately $23.25. 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). New York Mortgage Trust, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Wednesday, May 01, 2024, and so far it has fallen -1.10%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for New York Mortgage Trust, Inc. stock

New York Mortgage Trust, Inc. finds support from accumulated volume at $23.03 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 $0.160 between high and low, or 0.689%. For the last week the stock has had daily average volatility of 1.19%.

Our recommended stop-loss: $22.43 (-4.03%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (NYMTM) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect New York Mortgage Trust, Inc. to open at $23.32, and during the day (based on 14 day Average True Range), to move between $23.12 and $23.62, which gives a possible trading interval of +/-$0.250 (+/-1.07%) 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 2.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.43 (0.26%) than the support at $23.03 (1.45%), 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?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for New York Mortgage Trust, Inc. stock to perform well in the short-term.

Current score: 2.064 Buy Candidate Unchanged

Predicted Opening Price for New York Mortgage Trust, Inc. of Thursday, May 9, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.