The following is technical analysis of Freddie Mac ( FRE ) stock for 3/30/09FRE Support and Resistance Levels - March 30, 2009
Resistance Levels: $1.00, $1.50
Support Levels: $0.80, $0.59, $0.50
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FRE stock has managed to close over the 10 day moving average unlike what Fannie Mae has done. $0.80 is a critical support level for FRE, any close below this level and Freddie will be headed back to the 50 day moving average at $0.59. Like FNM, I would be a buyer on a close over $1.00. The real break out will start on a close over $1.50 but this is a long ways away. Keep an eye on $1.00 and the 50 day moving average for signals of the next big move. For More Technical Analysis - Go Here
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