FRE & FNM move into consolidation

Both FRE & FNM demonstrate the same chart patterns and move into consolidation phase after heavy trading last month. Both stock prices are above 20D, 50D and 200D MA but volumes are dropping.

FRE 61.8% Fibonacci support level at $1.714. It is a good entry level for long term investment if the stock price stays above this support line.

FNM 61.8% Fibonacci support level at $1.483. It is a good entry level for long term investment if the stock price stays above this support line.

 

Note: FRE & FNM do not meet my stock selection criteria.