PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

Archive for the ‘mREITs’ Category

December 4th, 2013: NLY Weekly Chart

Posted by pugsma on December 4, 2013

10:40 am EST:  The NLY weekly chart shows an interesting bullish falling wedge pattern that has hit a support zone near $10.  There is also potential positive divergence setting up on the weekly RSI and MACD indicators with the new NLY price low.

PUG NLY Weekly Chart 12-4-13

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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):

PUG AGNC Daily Chart With Indicators 9-13-13

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