Sept 13th, 2013: AGNC Daily Chart
Posted by pugsma on September 13, 2013
10:15 am EST: AGNC is a mREIT (Mortgage Real Estate Investment Trust) that currently carries a 18.5% annual dividend. Thus, with AGNC you get paid a big dividend to wait for any price movement higher. Recently AGNC has been trading near its 2008 IPO price of $20 per share. This is after coming of a $37 all-time high in May 2013, which is a -45% decline.
AGNC appears to have put in an Inverse Head and Shoulders (IHS) bottom with a head at $20.5, neckline at $23.25 and target of $26 [i.e. 23.25 + (23.25-20.50)]. Over the past few days AGNC has broken above the $23.25 neckline, setting up the potential move to the IHS target of $26.0. Also notice at the initial $20.5 price low in July there was positive divergence set-up o the daily RSI (14), MACD (12,26,9) and Full-STO. AGNC price is also now trading above the bullish aligned short-term moving average cluster of 13-day EMA ($22.89), 13-day EMA ($22.69) and 50-day SMA ($22.30).
AGNC Daily Chart with Indicators (morning):
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