Redwood Trust Inc

RWT is in a confirmed Stage 4 decline with sequential lower highs and lower lows and price trading below all major EMAs, establishing a bearish medium-term bias. Short-term timing remains unfavorable for bulls as no meaningful pullback or relief bounce has emerged, so the tradable side is to engage on weakness now.

• ↑Q1 mortgage banking volume hit $8.5B, 10× gap book
• ↑Castle Lake JV adds ~$8B capital, driving 12–15¢/share
• ↓GAAP net loss $7M as legacy assets incur $104M loss