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A company insider recently bought 15,000 shares of Redwood Trust Inc. [RWT]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Redwood Trust Inc. shares valued at $93,720 were purchased by Carillo Brooke on May 30 ’24. At $6.25 per share, Carillo Brooke acquired 15,000 shares. The insider’s holdings grew to 56,772 shares worth approximately $0.36 million following the completion of this transaction.

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As published in a research note from Wedbush on April 11, 2024, Redwood Trust Inc. [RWT] has been rated down from an Outperform to a Neutral. Analysts at UBS started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of December 05, 2023, BTIG Research has increased its “Neutral” rating to a “Buy” for RWT. Earlier on June 15, 2023, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for RWT stock which previously was a “an Overweight”.

Analyzing RWT Stock Performance

During the last five days, there has been a surge of approximately 0.71%. Over the course of the year, Redwood Trust Inc. shares have dropped approximately -13.56%. Shares of the company reached a 52-week high of $7.38 on 01/02/24 and a 52-week low of $5.45 on 04/16/24. A 50-day SMA is recorded $6.32, while a 200-day SMA reached $6.62. Nevertheless, trading volume fell to 0.31 million shares from 1.07 million shares the previous day.

Support And Resistance Levels for Redwood Trust Inc. (RWT)

According to the 24-hour chart, there is a support level at 6.41, which, if violated, would cause prices to drop to 6.36. In the upper region, resistance lies at 6.49. The next price resistance is at 6.52. RSI (Relative Strength Index) is 50.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.03, which suggests the price will decrease in the coming days. Percent R is at 57.50%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.

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