Fannie Mae FNM Stock Analysis 9/3/09

The following is a little Fannie Mae (FNM) stock technical analysis for September 3, 2009

Fannie Mae (FNM) Support & Resistance Levels - 9/3/09

Resistance Levels: $1.66, $1.72, $1.90

Support Levels: $1.50, $1.37, $1.32

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Fannie Mae (FNM) is trading back under the 10 day moving average....I would be a buyer if FNM closes back above the 10 day or retests the 50 day moving average. Until then, the 10 day moving average is going to be a strong resistance level and risk to the downside is large. FNM is still in an uptrend unless it closes below the $1.32 high from early August. Watch the 10 day moving average which today should be around $1.70ish. For more Technical Analysis - Go Here

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