Annaly Capital Management shares are trading on heavy volume today, having risen 1.8% to $16.02. About 10.6 million shares have been traded today, as compared to the 30-day average volume of 8.8 million shares. Unusually high volume can signify a potential turning point or validate a breakout.
Based on a current price of $16.02, Annaly Capital Management is currently 4.8% above its average consensus analyst price target of $15.25. The stock should discover initial support at its 200-day moving average (MA) of $15.93 and subsequent support at its 50-day MA of $15.08.
Over the past year, Annaly Capital Management has traded in a range of $13.72 to $17.75 and is now at $16.02, 17% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.
Annaly Capital Management Inc. is a real estate investment trust which owns and manages assets and funds on behalf of institutional and individual investors worldwide. The Company manages a portfolio of mortgage backed securities, including mortgage pass through certificates, collaterized mortgage obligations, and other securities.