Fannie Mae FNM Stock Analysis 8/31/09

The following is a little Fannie Mae (FNM) stock technical analysis for August 31, 2009

Fannie Mae (FNM) Support & Resistance Levels - 8/31/09

Resistance Levels: $2.13, $2.50, $2.76

Support Levels: $2, $1.95, $1.75

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Fannie Mae (FNM) closed over $2 Friday which is very bullish. The next resistance I am watching out for is $2.13 from Tuesday which failed on Friday at $2.12. After $2.13, there is no major resistance until around $2.50 and up to $2.76. The $1.95-$2 area should offer a nice support level for the stock going forward. I would be a buyer of pullbacks to the 10 day moving average.

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