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Walter Investment Management Corp. (WAC) provides business services to the residential mortgage industry in the United States.
The company offers residential loan services that focuses on credit-sensitive residential and reverse mortgages; and provides a suite of services to the reverse mortgage sector, including servicing, sub-servicing, loan origination, asset management, and related technology.
It also owns a mortgage portfolio of credit-challenged, non-conforming residential loans and reverse mortgage loans, as well as operates an insurance agency serving residential loan customers.
Shares are heading higher in a bullish "cup & handle" and higher prices are expected for this stock. Note that the formation is supported by the stock's 200-day moving average.
52-Week Trading Range: $17.87 - $49.99
Entry Point: $40.10
Stop Loss: $38.10
Target Price: $44.15
WAC fell below our stop loss on the same day that was added to the portfolio. This is a rare event. The positon was closed at $38.00. We still believe in the company.
