FNM Watch

Fannie Mae (FNM) has switched to bull phase on both the parabolic sar and Person's Proprietary Signal. It's the first phase switch since the stock turned bearish on April 27.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
FNM $0.97

At 10:27 a.m. Eastern

The stock so far today has come to within 1¢ of the 61.8% Fibonacci retracement level of 99¢, a major reversal level for this issue.

The macd, although in bear phase, has been rising toward the zero line for six trading days, and the stochastic is moving up through the neutral zone toward overbought territory (the 80-line).

On the downside (literally), volume has been declining as FNM's price rises. This sort of disconnect casts doubt on the strength of the rise.

Reversal Levels

• $1.14, +17.5%
• $0.99, +2.1% (Fib retracement level)
• $0.98, +1.0%
• $0.97 <== You are here.
• $0.89, -8.3%
• $0.88, -9.3%

The most recent swing high is $1.36, on April 13.

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Abbreviations:

• psar - Parabolic Stop and Reverse
• adx - Average Directional Index
• pps - Person's Proprietary Signal
• ma20 - 20-day moving average
• macd - Moving Average Convergence-Divergence
• sto - Fast Stochastic

About the glance: The colors indicate the state of each signal.

• trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
• adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
• psar, pps, macd: green for bull mode, red for bear
• sto: green for overbought, red for oversold, yellow for the neutral zone.

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Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment. No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.