Fannie Mae FNM Stock Analysis 9/21/09

The following is a little Fannie Mae (FNM) stock technical analysis for September 21, 2009

Fannie Mae (FNM) Support & Resistance Levels - 9/21/09

Resistance Levels: $1.73, $1.90

Support Levels: $$1.50, $1.29

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Fannie Mae has been slowly drifting downward over the past week due to the lack of volume and buyers. If you are trading FNM, it is important to watch the volume. In order for FNM to really move, it needs to trade at least 150-200 million shares per day. When FNM goes up on 40-50 million shares in the first hour of trading, you know something is cooking. Also, watch strong resistance located at $1.73. FNM failed twice over the past two weeks at $1.73. I will only buy FNM stock above this level. For more Technical Analysis - Go Here

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