Today, shares of Walter Investment Management (AMEX:WAC) have fallen below their 10-day MA of $44.25 on a volume of 234K 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 has overhead space with shares priced $43.61, or 21.1% below the average consensus analyst price target of $55.29. The stock should hit resistance at its 50-day moving average (MA) of $44.15, as well as support at its 200-day MA of $32.75.
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.
Walter Investment Management share prices have moved between a 52-week high of $49.67 and a 52-week low of $17.87 and are now trading 144% above that low price at $43.61 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 0.6%.