Replies to post #111382 on Fannie Mae-No Politics (FNMA)

[ClayTrader]

Why would I? Because it is a FACT that it 'is' a level of support. It's the 200-SMA! That is basic basic basic charting.

And an FYI... just because someone talks about a level of support, does NOT mean they are saying, "that is where the price is headed", they are simply stating a technical observation.

Example. $5.44 is a level of resistance on the chart (very basic). Does that mean I'm saying the price is headed up to $5.44 anytime in the near future? NOPE... all I'm doing is stating an observation.

Truly, this is not rocket science.

[Blushing green]

he posted the next level of support after $1 is $0.85 actually....