The open was equal to the prior day's close, and thereafter FNM declined by 0.9% high to low before pulling back.
| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| FNM $1.05 |
Volume on Monday was 11 million, about a third the number of shares traded Friday and less than a fourth of Thursday's action. Peak volume in the last three months was nearly 102 million shares on March 9.
Volume across the markets has been slow in advance of Friday's Christian holiday and Eastern weekend.
In order to preserve what may be a pennant pattern, the price would need to stay above $1.03. A movement below that level would cast the pattern into doubt.
However, any price pattern with a stock priced as low as FNM will be sloppy because the granularity is so gross. If Fannie were a beach, it would be made of gravel, not sand.
The smallest price move FNM can make is 1¢, and that amounts to 0.95%.
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