The following is technical analysis of Fannie Mae ( FNM ) stock for 3/30/09FNM Support and Resistance Levels - March 30, 2009
Resistance Levels: $0.75, $1.00
Support Levels: $0.58, $0.50
http://stockcharts.com - Chart
FNM stock has closed back below the 10 day moving average...the first signs of weakness but we will have to give this a few days. Resistance will be at $0.75 which is the 10 day moving average and the high on Friday. If FNM can poke above this level, there will be signs of life once again. Watch $0.75 from here on out. If FNM fails to get back above $0.75 and stay there, the 50 day moving average is the next major support level located at $0.58. For a long term stand point, I will be buying the first close over $1.00. For More Technical Analysis - Go Here
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