Federal National Mortgage Association (OTC:FNMA) Technical Update

Federal National Mortgage Association (OTC:FNMA) Technical Update

Federal National Mortgage Association (OTC:FNMA) Technical Update

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 2.65.

The projected upper bound is: 3.30.

The projected lower bound is: 2.73.

The projected closing price is: 3.02.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 23 white candles and 25 black candles for a net of 2 black candles.

A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 62.4365. This is not an overbought or oversold reading. The last signal was a sell 3 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 54.28. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 15 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -24. This is not a topping or bottoming area. The last signal was a buy 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 3 period(s) ago.

Rex Takasugi – TD Profile

FANNIE MAE closed up 0.010 at 3.010. Volume was 37% below average (neutral) and Bollinger Bands were 16% narrower than normal.

Open High Low Close Volume___
3.010 3.060 2.930 3.010 3,371,189

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 3.06 2.76 2.05
Volatility: 73 64 89
Volume: 5,750,510 5,356,307 5,620,144

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FANNIE MAE is currently 47.1% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into FNMA.PK (mildly bullish). Our trend forecasting oscillators are currently bullish on FNMA.PK and have had this outlook for the last 18 periods.

The following two tabs change content below.
'Want to learn more with Nick Lesson? Bizintra offers world-class education, trade signals with a success rate of 80% to date, daily live webinars and a student support community. The best part of this is that they offer a limited number of broker sponsorships each month, meaning a broker will pay 100% of your course fees. Why delay? head over to their website bizintra.com for more information and to arrange a call with one of their senior analysts who can provide you with all the details'

Latest posts by Nick Leeson (see all)

You must be logged in to post comments :  
CONNECT WITH