Will AGNC Reach the Level of $11?

AGNC Investment Corp. stock price is currently trading at $9.96 with a nominal gain of 0.50% in the last 24 hours with a current market cap of $6.006 Billion. However, the AGNC stock price has been consolidating inside the horizontal price range of $10.65 and $9.33 over the daily time frame chart. Price action indicates the consolidation phase of AGNC Stock.

Investor sentiments regarding the AGNC price are indecisive at the moment. However, sentiments may remain negative unless the buyers start stepping into the price action with substantial bullish momentum. Furthermore, as per the technical indicators and price action, the odds are favoring the bulls.

The stock price needs to attract more buyers to rush toward the upper trendline of the consolidation phase over the daily time frame chart. Moreover, the AGNC share price is trying to collect support and surge towards 100, and 200-day daily moving averages. AGNC shares have been range-bound inside the horizontal price range of $10.65 and $9.33.

Nonetheless, AGNC’s stock price has inclined around 2.15% in a week but lost -0.80% in a month. Also, the AGNC Investment Corp. share price shed around 4.40% in the last three months and declined -6.04% over the last six months. However, the AGNC Investment Corp. stock chart shows a prolonged consolidation that can also be seen in its performance.

AGNC Stock Price Preparing to Breach $11 Mark

AGNC stock price is trying to initiate its recovery rally to reach the upper threshold of the consolidation phase. However, the AGNC shares need to accumulate buyers in order to surge towards its recovery phase.

AGNC share price has breached the 20 and 50 EMA and heading towards 100, and 200-day daily moving averages. However, investors might prefer to wait for a confluence of multiple technical indicators in order to decide the direction of the trend. There is a slight increase in the green candles of volume which suggests the AGNC Investment Corp. price is attracting buyers at the demand zone.

MACD exhibits the consolidation phase of the AGNC share price. The MACD line is flat above the signal line waiting for any type of crossover. Investors in AGNC stock need to wait for any directional change over the daily time frame chart.

Technical indicators suggest the stock price is trying to break the consolidation phase. Relative strength index (RSI) showcases the sideways momentum of AGNC shares. RSI was at 53 and is heading towards the oversold territory.

Summary

AGNC shares must register its breakout from the consolidation phase over the daily time frame chart. On the daily time frame, the AGNC stock price has been consolidated between the narrow price range of $10.65 and $9.33. Nevertheless, in order to accelerate toward its comeback phase, AGNC shares must gather buyers. Technical indicators point to a period of price consolidation for the AGNC Investment Corp. stock. Investors in AGNC stock must watch the daily time frame chart for any directional changes.

Technical Levels

Support: S1= $9.43, S2 = $8.95 and S3 = $8.06.
Resistance: S1= $10.31 and S = $10.72.

Disclaimer

The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing