Fannie Mae FNM Stock Analysis 9/28/09

The following is a little Fannie Mae (FNM) stock technical analysis for September 28, 2009

Fannie Mae (FNM) Support & Resistance Levels - 9/28/09

Resistance Levels: $1.64, $1.78

Support Levels: $1.50, $1.37, $1.26

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Fannie Mae FNM is back testing the $1.50 support level which was the low last Monday. If $1.50 is broken, there is huge downside risk to $1.26-$1.40. The only way I would buy FNM is if the stock closed back over the 10 day moving average. Until then, this stock is to risky for me to hold.

If you are willing to take the risk, a pullback to the 50 day moving average would be a solid support level. For more Technical Analysis - Go Here

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