Walter Investment Management (AMEX:WAC) shares have crossed bearishly below their 10-day moving average of $21.10 on a volume of 485K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Walter Investment Management (AMEX:WAC) is currently priced 0.0% above its average consensus analyst price target of $20.00. Walter Investment Management shares should encounter resistance at the 200-day moving average (MA) of $22.86 and support at the 50-day MA of $17.39.
Over the past year, Walter Investment Management has traded in a range of $14.16 to $31.02 and is now at $20.00, 41% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.4%.
Walter Investment Management Corporation is a mortgage real estate investment trust. The Company is focused on the purchase and securitization of single family mortgage loan pools and subordinate mortgage-backed securities purchased in bulk directly from financial institutions.