Federal Agricultural Mortgage Corp

AGM remains in an intermediate uptrend, consolidating above key EMAs and the 50-day SMA after a recent record high. Medium-term bias is bullish, supported by Stage 2 consolidation above rising moving averages, while short-term action is neutral with flattening EMAs and neutral RSI, suggesting patience for a pullback. Execution is deferred to stalk for a pullback into the mid-220s support zone near the 50-day SMA. Invalidation occurs on a decisive break below the 50-day SMA and 200DMA.

• ↑Q2 business volume rose to $37.2B (+$2.4B), revenue reached a record $125M
• ↑Core earnings of $59M ($5.40/share), ROE at 18.9%, efficiency ratio 28%
• ↓Weak profitability as operating expenses rise, offsetting net spread gains