Waiting For The AGNC Investment Corp Stock To Make A Move

Waiting For The AGNC Investment Corp Stock To Make A Move | Technical Analysis

The technical picture of the AGNC Investment Corp (NASDAQ: AGNC) stock on our 4-hour chart shows that currently, the share price is stuck between two short-term trendlines, an upside one taken from the low of May 2^nd and a downside one drawn from the high of May 16^th. To consider the next short-term directional move, a break through one of those lines is required. Until then, we will take a neutral stance.

If the stock breaks the aforementioned downside line and also rises above the 12.30 barrier, marked by the high of May 31^st, that may attract more buyers into the game, potentially clearing the path towards the 12.45 zone, or the 200 EMA. Initially, AGNC might stall there for a bit, but if the buyers remain strong, they could overcome those obstacles and aim for the 12.64 area, marked by the highest point of May, or for the 12.76 level. That level marks the high of April 8^th.

The RSI and the MACD are both flat. That said, the RSI sits slightly above 50, which supports the idea of aiming higher. However, the MACD remains above zero but below the signal line, this way supporting the idea of waiting for a clear breakout first.

Alternatively, a break through the previously discussed upside line and a price-drop below the 11.98 territory, marked by the lows of January 1^st and 7^th, may scare off the buyers for a while. AGNC could fall to the 11.75 obstacle, or even all the way to the 11.54 zone. That zone marks the low of May 20^th.

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