Freddie Mac FRE Stock Analysis 9/8/09

The following is a little Freddie Mac (FRE) stock technical analysis for September 8, 2009

Freddie Mac (FRE) Support & Resistance Levels - 9/8/09

Resistance Levels: $2.04, $2.25, $2.50

Support Levels: $1.50

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Freddie Mac (FRE) failed at the 10 day moving average on Friday after hitting $1.51 two days earlier. The 10 day moving average ( currently located at $2.04 ) will offer some resistance as will the $2.25 area. If FRE can close above $2.25, it has a strong shot at retesting the recent highs. As long as FRE stays below the 10 day moving average however, I do not like the stock. Most people feel as though FRE has no value so you have to be cautious when trading the stock. I would get back into the stock if it closed above $2.25 but keep a very tight stop loss order. For more Technical Analysis - Go Here

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