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Bearish Moving Average Cross by Walter Investment Management (WAC)

Published on Thu, 02/21/2013 - 12:19
By Adrienne Chilton

Today, shares of Walter Investment Management (AMEX:WAC) have fallen below their 10-day MA of $47.28 on a volume of 227K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Walter Investment Management share prices have moved between a 52-week high of $49.99 and a 52-week low of $17.87 and are now trading 160% above that low price at $46.40 per share. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.5%.

There is potential upside of 17.6% for shares of Walter Investment Management based on a current price of $46.40 and an average consensus analyst price target of $54.57. The stock should find initial support at its 50-day moving average (MA) of $45.19 and further support at its 200-day MA of $33.96.

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.

By Adrienne Chilton