Fannie Mae (FNMA)

[chenzo11]

A quick glance at the weekly chart, and it shows a very bullish flag has formed. The flag formation shows higher lows banging up to $1.63- $1.64. I predict once we break $1.65 we make the next leg up.

I see $1.77- $1.78 as the first resistance. We have bumped up and pulled back from there three times. This flag could get us through that, for its not even a 10% increase off the $1.65 PPS.

Although I have read of resistance of $1.89, I do not see that. It must go way back. I see the $2.00 level as the next stop, and possible pullback/consolidation.

I have posted here before that this battle will be waged between $1.00 and $2.00. The shorts will push back hard at $2.00 because once it breaks $2.00 the horse is out of the barn, and it becomes more expensive to manipulate.

GLTA, and looking forward to a profitable week!
Chenzo