NEW YORK MORTGAGE FUND (NYMT)
With my reemergence to the stock market I decided to check out one of my day one swing trading prospects. Low and behold it was coming from a nice floor of $2.89, From watching this stock for a couple months i had a good feeling of what was to come next. Currently sitting at $3.27 it could possibly still be in a good buy phase for a day trader. My plan is the sell at $6 since NYMT fell its $10-$13 range back in February it NYMT hasn’t exactly rebounded since then. For the last couple months NYMT has traded as low as $0.98 but since that low drop the floors been around $2.50 and the sealings been around $7.
If your someone whos not into swing or day trading NYMT has a pretty nice dividends payout. With an annual dividends of 9.52% its kind of a hidden gem if I don’t say so myself. Not to bad for a stock the just out of penny stock range very affordable and has a pretty nice dividends. Only problem is price isn’t exactly the most stable, hence the reason i typically look to swing trade it. I noticed this stock through a friend I later learned I shouldn’t take other people picks and roll with them. Remember when you make a beginner mistake don’t make it again, but that besides the point. Seems i found a great stock to swing trade and possibly make some green.
To go back to the drop that happened this year from around $6.40 to $0.98 being the stock hasnt been that low since 2008 the stability of this one may come back next year. Along with a regulation of price thats likely to happen slowly in the up coming weeks. Since 2008 this ones been pretty stable. Considering NYMT is a financial institution its not surprising it hit a historic low but that great for small capital like me. Doesn’t take to much buying power to but something thats been trading under $5 all year. But I don’t think that’s going to last for to long.
With that being said, I wouldn’t tell you to go put a trade in at market open because I’m not a analyst or a financial advisor invest at your own risk. If you enjoyed this short read I’m very thankful for that and hope you can get the most out of my content as possible.
CURRENT TIME 12:03 AM EASTERN TIME 11/18/2020
THANK YOU FOR READING PLEASE subscribe FOR MORE STOCK PROSPECTS, CRYPTO LINKS AND EXCHANGES, FOREX EXCHANGE AND MARKET NEWS