FRE has a $1.718 support line (61.8% Fibonacci Retracement)
FNM has a $1.472 support line (61.8% Fibonacci Retracement)
+fibo.png)
Both charts are currently bearish divergence and need to wait for MACD to cross the red signal line to enter the trade.
Saturday, September 5, 2009
Momentum play with Freddie Mac (FRE) and Fannie Mae (FNM)
FRE & FNM have been heavily traded recently and this is a very good chance to do momentum investment. Both charts are very similar which showing "higher previous high, higher previous low" kind of up trend.
FRE has a $1.718 support line (61.8% Fibonacci Retracement)
FNM has a $1.472 support line (61.8% Fibonacci Retracement)
+fibo.png)
Both charts are currently bearish divergence and need to wait for MACD to cross the red signal line to enter the trade.
FRE has a $1.718 support line (61.8% Fibonacci Retracement)
FNM has a $1.472 support line (61.8% Fibonacci Retracement)
Both charts are currently bearish divergence and need to wait for MACD to cross the red signal line to enter the trade.
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