FNMA near term resistance possible
FNMA daily update
Government has determined a path to release from conservatorship, if this happens then this stock will be relisted and be worth a lot more than the current value
At present the stock is nearing a short to medium term resistance level using elliot wave and fibonacci/ harmonics between $4.62 and $4.69
There is a clear crab pattern that aligns with Robert Miners 5th wave projection levels as well, with RSI closing in on 80 which is extremely overbought (But largely irrelevant in trends)
It does hint that there will be a short to medium term pause which would align with getting more details of the plan to release these massively profitable behemoths from government conservatorship
I've been long on this stock for years and already pulled my original money back out, but see some complex corrections happening for a while around where we are before blasting upward into a larger wave 3 structure
Government has determined a path to release from conservatorship, if this happens then this stock will be relisted and be worth a lot more than the current value
At present the stock is nearing a short to medium term resistance level using elliot wave and fibonacci/ harmonics between $4.62 and $4.69
There is a clear crab pattern that aligns with Robert Miners 5th wave projection levels as well, with RSI closing in on 80 which is extremely overbought (But largely irrelevant in trends)
It does hint that there will be a short to medium term pause which would align with getting more details of the plan to release these massively profitable behemoths from government conservatorship
I've been long on this stock for years and already pulled my original money back out, but see some complex corrections happening for a while around where we are before blasting upward into a larger wave 3 structure
Anulowano zlecenie
Breached any potential stop loss on this, and still climbing, not overly concerned... just trying to gauge where we are
This is an OTC stock so surprised it is >$5, which is the minimum for penny stocks... but its clearly getting attention now
Either way this was a long term buy and hold stock so i don't really care about short term issues as this will ultimately become a deposit for an investment property and more stocks later
Uwaga
The red bars show there was some selling pressure at that level, but it was overwhelmed and ultimately failed
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