Federal National Mortgage Association Stock Forecast
Evaluation of Federal National Mortgage Association stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Federal National Mortgage Association stock price fell by -2.97% on the last day (Thursday, 25th Apr 2024) from $4.37 to $4.24. During the last trading day the stock fluctuated 3.55% from a day low at $4.23 to a day high of $4.38. The price has been going up and down for this period, and there has been a 0.95% gain for the last 2 weeks. Volume has increased on the last day by 273 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 614 thousand shares were bought and sold for approximately $2.60 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.83% during the next 3 months and, with a 90% probability hold a price between $4.39 and $5.33 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FNMAS Signals & Forecast
The Federal National Mortgage Association stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $4.30. On a fall, the stock will find some support from the long-term average at approximately $4.23. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -3.20%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Thursday, March 21, 2024 and based on theory for this formation the price should fall by -14.39% to $3.63 within 8 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for Federal National Mortgage Association stock
Federal National Mortgage Association finds support from accumulated volume at $4.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.150 between high and low, or 3.55%. For the last week, the stock has had daily average volatility of 3.70%.
Our recommended stop-loss: $4.08 (-3.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (FNMAS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Federal National Mortgage Association to open at $4.28, and during the day (based on 14 day Average True Range), to move between $4.09 and $4.39, which gives a possible trading interval of +/-$0.154 (+/-3.63%) 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 7.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.27 (0.71%) than the support at $4.09 (3.54%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Federal National Mortgage Association stock A Buy?
Federal National Mortgage Association holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.409 Hold/Accumulate Downgraded
Predicted Opening Price for Federal National Mortgage Association of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $4.28 ( 1.02%) | $4.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FNMAS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.43 | 4.56 % | |
| R2 | 4.38 | 3.21 % | ||
| R1 | 4.34 | 2.37 % | ||
| Current price: | 4.24 | |||
| Support | S1 | 4.23 | -0.329 % | |
| S2 | 4.19 | -1.16 % | ||
| S3 | 4.13 | -2.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.45 | 4.95 % | |
| R2 | 4.32 | 1.89 % | ||
| R1 | 4.27 | 0.708 % | ||
| Current price | 4.24 | |||
| Support | S1 | 4.09 | -3.54% | |
| S2 | 4.05 | -4.48% | ||
| S3 | 3.91 | -7.78% |
FNMAS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 11, 2008 | Sep 11, 2008 | Sep 30, 2008 | $0.516 | 23.65% |
| 2 | Jun 12, 2008 | Jun 12, 2008 | Jun 12, 2008 | $0.516 | 2.18% |
| 3 | Mar 13, 2008 | Mar 13, 2008 | Mar 13, 2008 | $0.630 | 2.71% |
FAQ
Click here for our free guide on how to buy Federal National Mortgage Association Stock.
