Federal National Mortgage Association(FNM) is in an downtrend but momentum is showing some life

(31-Mar-2008) (31-Mar-2008) Federal National Mortgage Association(FNM) closed at 26.02, down -1.95 or -6.97 % today. Based on our analysis, Federal National Mortgage Association(FNM) is in an downtrend but momentum is showing some life.

The closing price of Federal National Mortgage Association(FNM) is below its 50 day moving average of 29.27 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Federal National Mortgage Association(FNM) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 18-Mar-2008, about 9 trading days ago.