Apologies for not posting anything last week. I was debating at the National Speech and Debate Tournament.
This post will be focused on Invesco Mortgage Capital Inc. (IVR).
IVR is a real estate investment trust that acquires, finances and manages residential and commercial mortgage-backed securities and mortgage loans.
IVR will be announcing their quarterly earnings this week. I believe this will act as a catalyst for IVR for the coming weeks.
We can currently see IVR reaching the end of a downtrend. The support level of $4.20 has been tested and has held successfully multiple times. A breakout is probably this week as IVR announces their earnings.
IVR has has an estimated earnings per share (EPS) of $0.20 per share. Although this may not be the best result, such an estimate given the COVID pandemic seems promising and sufficient to warrant an increase in demand from investors.
My theory seems to be fairly strong as IVR saw high volume last week.
IVR will report their earning on June 22 after the market closes.
Please let me know if you have any feedback or if there is anything I missed out. I appreciate the feedback.