Fannie Mae-No Politics (FNMA)

[Zargis]

Remember - they are ranges. I.e. the top or bottom wicks of large volume daily candles. Bigger candle and more volume the better resistance or support the range is.


What I mean is, the movement might fizzle prior to hitting a mark dependant on the true candle wick range.

The $4.39-$4.58-$4.71 range I gave is from two days earlier this year.
2/27-2/28 2014

I would advise examining that area of ranges as there are more but these two have decent candle and wick lengths as well as large volume on the 27th.

The strongest support is the low of $4.39 through the open mark of $4.58. The weaker range is $4.40 - $4.71, but since they are stacked that makes the $4.39/$4.40 point insanely strong in theory and the range of $4.39-$4.58 even stronger. So, we will likely on one day of move up pause roughly between $4.50 and $4.54 I would suspect. ( the ranges are quite large so we have a primary bounce off point likely at $4.39/$4.40 and a rubber band like holding from that point to the next $4.58 top resistance. I would suspect $4.71 would be over run easily if this occurs. However $4.71 could be a block for us if $4.58 is over run quickly.)

Be well,

-zargis