Wednesday, September 24, 2014 3:43:45 PM
FNMA
Starting to base 3 days in the $3 to 3.10 area after hitting 2.95 bottom target. Gaps above, 1st weak single bottom pattern resistance 3.45, stronger at 3.60 for entry. Note the last 3 days of basing volume halved each day. Saying retail sentiment is, bottom in, watch for phycology change.
Time to keep an eye on it.
With the gaps down, one could feel some safety entering this one before 1st resistance. Because if first gap emotion fills. Odds are second will. And momo could head it toward come back. The sentiment test will be 3.60 stronger reversal resistance level. If playing early, that's where I'd have my finger on the profit taking trigger and strong watch it for continuation after.
Starting to base 3 days in the $3 to 3.10 area after hitting 2.95 bottom target. Gaps above, 1st weak single bottom pattern resistance 3.45, stronger at 3.60 for entry. Note the last 3 days of basing volume halved each day. Saying retail sentiment is, bottom in, watch for phycology change.
Time to keep an eye on it.
With the gaps down, one could feel some safety entering this one before 1st resistance. Because if first gap emotion fills. Odds are second will. And momo could head it toward come back. The sentiment test will be 3.60 stronger reversal resistance level. If playing early, that's where I'd have my finger on the profit taking trigger and strong watch it for continuation after.
Welcome to my mind!
Success to all
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