A look at Fannie Mae's long term range
Fannie Mae is setting up to be an interesting rectangular chart pattern. At some point FNMA will breakout and it'll be a high probability trade. Until then, the range lows offer an interesting long set-up with targets at the top of the range. This could take 2-5 years before breaking out (or less/more). From 1970 - 1986, FNMA did nothing except trade in a range before finally breaking out. Just a good one to keep an eye on, potentially a good indicator for the broader market as well - everytime Fannie Mae hit the lows of the range the broader market was a great buy.
Percentage increase from the lows of the range generated a strong average return since 2013
Percentage increase from the lows of the range generated a strong average return since 2013
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.