BXMT looks ready for another leg down.
After a down-only 2022, a bit of a recovery in the first half of 2023, then sideways for the last 6 months -- this finally looks topped.
Personally expecting sub-$20 soon, before it catches a bid and finally going sub-$19 to the next volume cluster.
We'll see how it goes.
Price tested support last night and bounced back nicely ! Looking for the long side because even If am wrong I am happy to keep this position for its nice dividend ! Just food for thought :)
Someone asked me to look at BXMT.
Now I know that the Fed just nixed a rate raise, and that should be Bullish for a financial biz.
However, the waning momentum and oscillators peaking and milestone count and position say that BXMT is more probable to fall into that untested 2013 spike bottom to the left near 20.50.
I do realize that my leading diag structure in...
