Walter Investment Management (AMEX:WAC) crossed over its 10-day moving average of $17.84 on a volume of 122K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
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.
In the past 52 weeks, shares of Walter Investment Management have traded between a low of $14.16 and a high of $30.78 and are now at $18.29, which is 29% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 0.9%.
Walter Investment Management (AMEX:WAC) defies analysts with a current price ($18.29) 14.6% above its average consensus price target of $15.62. Walter Investment Management shares should encounter resistance at the 200-day moving average (MA) of $20.16 and support at the 50-day MA of $17.33.