New York Mortgage Trust Inc. 8.00% Stock Forecast
New York Mortgage Trust Inc. 8.00% stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The New York Mortgage Trust Inc. 8.00% stock price gained 0.605% on the last trading day (Wednesday, 24th Apr 2024), rising from $21.47 to $21.60. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.08% from a day low at $21.37 to a day high of $21.60. The price has fallen in 5 of the last 10 days and is down by -1.19% for this period. Volume fell on the last day by -6 thousand shares and in total, 2 thousand shares were bought and sold for approximately $34.97 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect New York Mortgage Trust Inc. 8.00% stock with a 90% probability to be traded between $21.39 and $22.81 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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NYMTN Signals & Forecast
There are mixed signals in the stock today. The New York Mortgage Trust Inc. 8.00% stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $21.99. On a fall, the stock will find some support from the short-term average at $21.38. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.98%. Further rise is indicated until a new top pivot has been found.
A sell signal from a double top formation was found on Wednesday, April 03, 2024 and based on theory for this formation the price should fall by -3.01% to $20.95 within 6 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for New York Mortgage Trust Inc. 8.00% stock
New York Mortgage Trust Inc. 8.00% finds support from accumulated volume at $21.49 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.230 between high and low, or 1.08%. For the last week the stock has had daily average volatility of 0.83%.
Our recommended stop-loss: $20.49 (-5.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (NYMTN) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect New York Mortgage Trust Inc. 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock to open at $21.52, and during the day (based on 14 day Average True Range), to move between $21.31 and $21.89, which gives a possible trading interval of +/-$0.290 (+/-1.34%) up or down from last closing price. If New York Mortgage Trust Inc. 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock takes out the full calculated possible swing range there will be an estimated 2.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.69 (0.42%) than the support at $21.49 (0.51%), 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. 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock stock A Buy?
New York Mortgage Trust Inc. 8.00% 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.212 Hold/Accumulate Upgraded
Predicted Opening Price for New York Mortgage Trust Inc. 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $21.52 ( 0.355%) | $21.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NYMTN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.75 | 0.710 % | |
| R2 | 21.67 | 0.303 % | ||
| R1 | 21.61 | 0.0518 % | ||
| Current price: | 21.60 | |||
| Support | S1 | 21.44 | -0.762 % | |
| S2 | 21.38 | -1.01 % | ||
| S3 | 21.29 | -1.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.20 | 2.78 % | |
| R2 | 22.17 | 2.64 % | ||
| R1 | 21.69 | 0.417 % | ||
| Current price | 21.60 | |||
| Support | S1 | 21.49 | -0.509% | |
| S2 | 21.37 | -1.06% | ||
| S3 | 21.36 | -1.11% |
NYMTN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | $0 | 0% |
| 2 | Dec 14, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.500 | 2.31% |
| 3 | Sep 11, 2023 | Sep 28, 2023 | Oct 15, 2023 | $0.500 | 2.52% |
| 4 | Jun 06, 2023 | Jun 29, 2023 | Jul 15, 2023 | $0.500 | 2.42% |
| 5 | Mar 09, 2023 | Mar 30, 2023 | Apr 15, 2023 | $0.500 | 2.51% |
FAQ
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