Fannie Mae(FNM) is in an downtrend

(23-May-2008) (23-May-2008) Fannie Mae(FNM) closed at 27.59, up 1.28 or 4.87 % for the day. Based on our analysis, Fannie Mae(FNM) is in an downtrend.

The closing price of Fannie Mae(FNM) is below its 50 day moving average of 28.22 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Fannie Mae(FNM) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 20-May-2008, about 13 trading days ago.