Fannie Mae-No Politics (FNMA)

[136]

** $FNMA 6/14/13 Chart Analysis (2 charts) **

Recent $FNMA chart analysis' I've done:

6/7/13 chart analysis
6/10/13 chart analysis
6/13/13 mid day chart analysis
6/13/13 chart analysis

On to today's chart:

RSI has broken south of 50, which screams BUY to me.
%B lower than it has been for a long time, which is also a STRONG BUY indicator for me.
MACD has gone as negative as it will get and will only improve from here. My opinion is that hedge funds are now reloading all their positions for the next financial "pop". Following a Fibonacci retracement from $5.20, we are loading the ~70% retrace zone HEAVILY. Should definitely see a .05-.10 gap up Monday followed by a green close on similar if not slightly smaller volume than today's.
This consolidated PERFECTLY around $1.50 and found LARGE SUPPORT just as I thought it would.
Next resistances in place are $1.89, $2.10 and $2.71.
Support here is $1.50 and MA 50 ( currently valued @ $1.37 )
Support looks well confirmed by a combination of May 31st's and today's candle. MA 50 doesn't need to be tested IMO. Support is psychologically @ $1.50. I only see this continuing up from here.

Personally I do not think $1.50 will break again, I feel we will head back up from here to the $1.80-$2.00 range until Mid August when the expected good earnings will come out.

A lot of people have asked me where I see this going into August's financial report and honestly if the report is as good as we are expecting it to be, I see no reason not to at least test $8-$10 upon financials of at least 50 Billion.




$FNMA


Check out my FNMA trading history:


Buying the .90 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87741908
Selling the .94 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87851212
(4.4% on $33k)

Buying the .96 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87889525
Selling the .9979 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87891232
(3.94% on $33k)

Buying the 1.15 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87942132
Selling the 1.499 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87980395
(30.3% on $33k)

Buying the 1.51 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88152582
Selling the 1.899 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88231242
(25.8% on $33k)

Buying the $2.00 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88239551
Selling the $2.49 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88274360
(24.5% on $33k)

Buying the $2.51 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88278046
Selling the $3.73 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88355777
(48.6% on $33k)

-----------------------------------------------------------
Took the funds from those six sales above which totaled $244,388, and bought the $1.51 and $1.61
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Buying the $1.51 and $1.61 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88497838
Selling the $2.50 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88570883



Took $244,388 in for the bounce and sold the $1.51's and $1.61's at $2.50 for ~65% profit on top of my original 6 trades, coming out with a grand total of $404,608.

$404,608(proceeds from $2.50 sale) - $198,000( 6 sets of $33k flips) = $206,608 ( PROFIT )

THANKS $FNMA

And now I am back "all in" here at $1.49 and $1.54
Buying the $1.49 and $1.54 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=89012279
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=89013101

$FNMA