- The AGNC share price is currently trading at $20.38.
- The company is facing difficulties due to the increasing rate of interest.
AGNC Investment Corp is a real estate investment trust, which mainly invests in mortgage-backed securities (MBS).
Why AGNC Stock Price is Falling?
From the past 20 trading sessions, the AGNC share price has been in a continuous fall and declined by 1.47%. The increasing rate of interest has become a strong obstacle in front of the money lending business, which has made its share price decline for the past few months. The increase in interest is making it expensive for borrowers to borrow money, which is making the company reduce its profitability.
AGNC Investment Corp (AGNCP) Stock Analysis
The AGNCP share price closed its last intraday session at $20.38 with a decline of 1.97% and traded with a volume of 92.471K. It is a small-cap organization with a market capitalization of 4.57 Billion USD.
The AGNCP Pirce Analysis on 1-Day Timeframe
At the end of September 2023, the price gave the breakdown of the rising channel, after which the AGNC Investment Corp share price was continuously declining. The price is continuing its downtrend in a lower-high formation. It is trading between $20.94 which is acting as a resistance, and $20.27 support levels.
The 50-day EMA and 200-day EMA lines are trading above the price, showing the bears’ overall control over the price. However, the EMA lines are trading a bit far from the price. So, we expect a rise in the price in the upcoming trading session where the price will retest the EMA lines.
The relative strength index is at 20.85, which is marked as an oversold territory. It shows the price is currently facing high selling pressure, which will lead to a pullback in the near future.
In the current scenario, the ANGCP stock price is approaching its $20.27 support from where a pullback is expected in the upcoming trading session. After that, it may rise to retest the $20.94 broken level, which is acting as a resistance now and both the EMA lines. The chances are high that the price will resume its downtrend to $20.27 support after retesting. If it gives the breakdown of $20.27 support, it will fall further to its next support zone at $19.46.
Buyers can regain the bullish sentiment and control of the price if they close it above the $20.94 level and sustain above that level. After that, the AGNCP price can rise to its next resistance at $22.32.
Conclusion
The AGNCP stock price sentiment has shifted to a bearish sentiment. Despite the overall control of sellers, the price can rise in the short term and can retest the $20.94 level and both the EMA line. The chance of continuation of the downtrend is high. The technical indicators are pointing towards the rise in price despite the overall control of the sellers.
Technical levels
Resistance Levels: $20.94 and $22.32.
Support Levels: $20.27 and $19.46.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading in crypto comes with a risk of financial loss.