Federal National Mortgage Association Stock Forecast
Federal National Mortgage Association stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
No changes to the price of Federal National Mortgage Association stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 0% from a day low at $6.59 to a day high of $6.59. The price has risen in 5 of the last 10 days and is up by 2.17% over the past 2 weeks.
The stock lies in the middle of a wide and weak 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 8.32% during the next 3 months and, with a 90% probability hold a price between $6.61 and $8.00 at the end of this 3-month period.
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FNMFN Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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. The Federal National Mortgage Association stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $6.67 and $6.66. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Federal National Mortgage Association stock
Federal National Mortgage Association finds support from accumulated volume at $6.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.643%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FNMFN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Federal National Mortgage Association to open at $6.59, and during the day (based on 14 day Average True Range), to move between $6.47 and $6.71, which gives a possible trading interval of +/-$0.122 (+/-1.85%) 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 3.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.52 (1.06%) than the resistance at $6.88 (4.40%), 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?
Federal National Mortgage Association holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.346 Sell Candidate Upgraded
Predicted Opening Price for Federal National Mortgage Association of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $6.59 ( 0%) | $6.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FNMFN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.59 | . | |
| R2 | 6.59 | . | ||
| R1 | 6.59 | . | ||
| Current price: | 6.59 | |||
| Support | S1 | 6.59 | . | |
| S2 | 6.59 | . | ||
| S3 | 6.59 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.05 | 6.98 % | |
| R2 | 6.90 | 4.70 % | ||
| R1 | 6.88 | 4.40 % | ||
| Current price | 6.59 | |||
| Support | S1 | 6.52 | -1.06% | |
| S2 | 6.50 | -1.37% | ||
| S3 | 6.21 | -5.77% |
FAQ
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