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Stock Investors Sell Off Shares of Ocwen Financial, Down 1.6%

Published on Fri, 02/15/2013 - 13:22
By Mallory Stone

Down 1.6% to $40.38, Ocwen Financial (NYSE:OCN), is one of today's notable movers. The Dow Jones Industrial Average is now trading fractionally lower to 13,968 and the S&P is trading fractionally lower to 1,520.

In the past 52 weeks, Ocwen Financial share prices have been bracketed by a low of $14.40 and a high of $41.87 and are now at $40.38, 180% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.9% while the 50-day MA has advanced 1.2%.

Ocwen Financial (NYSE:OCN) has potential upside of 11.8% based on a current price of $40.38 and analysts' consensus price target of $45.14. The stock should discover initial support at its 50-day moving average (MA) of $37.05 and subsequent support at its 200-day MA of $27.77.

Ocwen Financial Corporation is diversified financial services holding company. The Company's primary businesses are the acquisition, servicing and resolution of sub-performing and nonperforming residential and commercial mortgage loans, as well as the related development of loan servicing technology and business-to business e-commerce solutions for the mortgage and real estate industries.

By Mallory Stone