NYMT is a mortgage REIT that pays a very high dividend (16.3% as of this writing) that I have been tracking for a while. It’s stock has been struggling of late, and I’ve been looking for when the right time to invest in this stock would be. I think we’ve hit that point, and we can confirm it by doing technical analysis on the stock chart.
If you look at the stock chart (below) from Stock TickerPicker, you can see that the stock has broken below it’s lower Bollinger Band, and the RSI is hitting 30 (oversold). It’s also hit this point before and then bounced back up, indicating some support. Time to go invest in some of this stock.