LUM gaining more than 15%
Tuesday, October 02, 2007
Shares of Luminent Mortgage Capital are trading up today gaining more than 15%, after early in the morning company said that it repaid much of its debt and arranged to borrow more, limiting the risk the struggling mortgage financier will run out of cash. In addition Deutsche Bank analyst Stephen Laws raised his price target on the stock to $2.25 from $1.50. Looking at the chart a close above $2.05 could give a new Bullish power on stock to close the Gap. Indicators are showing some improvemnts with RSI above 50 level and MACD near to cross above 0. So, keep an eye on this baby for a possible new rally.
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Labels: LUM
