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Walter Investment Management Crosses Above its 10-day MA (WAC)

Published on Wed, 03/27/2013 - 11:24
By Robert Cotter

Today, shares of Walter Investment Management (AMEX:WAC) have crossed bullishly above their 10-day moving average of $36.53 on a volume of 1.2 million 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.

In the past 52 weeks, shares of Walter Investment Management have traded between a low of $17.87 and a high of $49.99 and are now at $36.80, which is 106% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.8% while the 200-day MA has risen 0.5%.

Walter Investment Management (AMEX:WAC) has potential upside of 48.3% based on a current price of $36.80 and analysts' consensus price target of $54.57. The stock should find resistance at its 50-day moving average (MA) of $44.38, as well as support at its 200-day MA of $36.77.

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 Robert Cotter