You don't have to be an expert technical analyst to figure out what's going on in shares of Newcastle Investment (NCT) -- a quick glance at the chart will do. NCT has been in an uptrend since the end of December, rallying as it got pushed by tailwinds in the real estate sector and then spun off its residential financing unit into New Residential Investment (NRZ) in May.
Adjusting shares of NCT for the spinoff gives us the chart above.
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