Fannie Mae Stock Forecast

Big movements in Fannie Mae stock price on Thursday moving 11.54% between high and low
(Updated on Apr 18, 2024)

FNMA Signals & Forecast

There are few to no technical positive signals at the moment. The Fannie Mae stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.48 and $1.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -32.31%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Fannie Mae stock

Fannie Mae finds support from accumulated volume at $1.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.150 between high and low, or 11.54%. For the last week, the stock has had daily average volatility of 8.38%.

Our recommended stop-loss: $1.24 (-6.22%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (FNMA) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Federal National Mortgage Association to open at $1.36, and during the day (based on 14 day Average True Range), to move between $1.18 and $1.46, which gives a possible trading interval of +/-$0.137 (+/-10.37%) up or down from last closing price. If Federal National Mortgage Association takes out the full calculated possible swing range there will be an estimated 20.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.31 (0.76%) than the resistance at $1.36 (3.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Federal National Mortgage Association stock A Buy?

Fannie Mae holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.531 Hold/Accumulate Upgraded

Predicted Opening Price for Federal National Mortgage Association of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.