Regan Floating Rate Mbs is slightly up on the day, it isn't making a very strong move but still up 0.16%. We'll see if it can keep moving up or not. It looks like MBSF may be interacting with a slightly angled resistance line. This area could represent a pivot point. In addition to being near an angled resistance line MBSF is near a moderate horizontal resistance line. These areas typically mark where sellers have previously been at or buyers don't think the asset is worth more than this price.
An average resistance line like this could mark a reversal point. Or a good time to sell. Of course, if it breaks through the line there may be a burst of buying on the other side that pushes the price up. The company has been chopping around the last few months without a clear directional momentum. So it might bounce off here, but hard to say. It looks like MBSF may be interacting with a slightly angled support line. This area could represent a pivot point that it moves up from. The company has been chopping around the last few months without a clear directional momentum. So it might bounce off here, but hard to say.
If it breaks through the resistance level, we aren't seeing any clear resistance points beyond that. So it may have plenty of room to work up from there. We aren't seeing very clear support levels down beneath this point, so it might have room to gap down lower if price is rejected from here.
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