Re: CHECKING OUT NYMT...! GAIN - board AMZA
I just pulled up the NYMT chart and I have to say that I haven’t seen many charts as predictable as that, at least over the last year. It travels pretty much in a well defined upward sloping channel. The top of the channel is usually confirmed by a MACD line that crosses the red line. The bottom of the channel is often defined by a long candle which looks like the result of an spo. I’ll draw some lines and target my exit range. The RSI isn’t really a big signal in this stock because it is not a big mono stock where people are expecting big earnings changes.
Those wanting to take a more fundamental approach may consider that many mREITS target a mid teens Total Return, so anytime you have a gain in the stock price plus the dividend in a quarter that is equal to 4% (that would be about 24 cents for NYMT), that is about what the stock will return for the quarter. It may be a little weird since it’s already at the end of the quarter and the earnings that pay the divy have already “accreted” into the stock price ( I think the chart is also adjusted down to show the affect of the
Let’s see how my experiment goes. If nothing else, it keeps one from getting too greedy and not taking profits and then getting blindsided by an spo.