Fannie Mae-No Politics (FNMA)

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** $FNMA 6/20/13 Chart Analysis **

Nice close above the $1.70 support mark! I expect a nice green day tomorrow 6/21 and hopefully it will close above the MA 10 ( currently valued @ $1.83 ). If we get another close tomorrow or Monday above the MA 10 I believe it would quickly lead to more tests of trying to get above the MA 20. Which currently resides above our $2.10 resistance @ $2.14. Any close beyond $1.89 (our next resistance above) will most likely turn MA 10 into strong support. Also the reason I think $1.89 is "the" price to get above is because it just seems to prompt $2 easily. Also higher lows are being made here. Now ultimately what will confirm the third "run" starting for me would be the day we see price action leading to a close above $2.10. Then my friends, we can exhale and prepare for liftoff. Close above $1.89 is the first step. HUGE golden cross on the weekly happening. And selling seems to have dried up. Most here wanted some $1.60's, but they were few and far between. I believe MACD and %B will be going bullish tomorrow.


$FNMA