Fannie Mae-No Politics (FNMA)

[BennySlots]

Yes, you should change to the 60 minute chart to see what we're talking about. Pharaoh already posted it and circled some important indications.

Secondly, even if you just look at the daily chart it gives you clues about a reversal. For example:

1. The candle on Friday showed indecision. When a candle like that forms after a strong trend, it can often mark a reversal.

2. The candle has a longer bottom tail AND bounced off the 25 MA. Another good sign that resistance there may hold and cause a reversal.

3. The Stochastic indicator just curled up and crossed

4. The RSI line also started to curl

5. If you look at the Accumulation/Distribution line, you'll see that it reversed and spiked up on Friday.


Now, having said all of that the full CEO interview is tomorrow morning. If real news is made, that could either strengthen the reversal or stop it from happening. But just based on the chart, it looks like a bounce up is about to occur over the next few days.

GLTY!