Monday, March 12, 2018 11:32:07 AM
This morning, many of the leading mortgage insurance stocks are coming under sharp selling pressure. Obviously, higher interest rates are weighing on the industry group. Leading mortgage insurance stocks such as MGIC Invt Corp (NYSE:MTG), Radian Group Inc (NYSE:RDN), Essent Group Ltd (NYSE:ESNT) and N M I Holdings Inc Cl A (NASDAQ:NMIH) are all declining lower by more than 2.0 percent in today's trading session.
MGIC Invt Corp (NYSE:MTG) is a leading mortgage insurance stock that is now on my radar for a trade. The stock is declining after forming a weekly bearish consolidation pattern. This tells me that the next major support level for the stock is going to be around the $12.00 area. This important support level should serve as an excellent level for a bounce in the stock.
Nicholas Santiago
InTheMoneyStocks
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