The weekly chart on FMCC is starting to become rather bullish. The weekly technical signals are showing many of the indicators turning bullish, nearing positive territory or already bullish. The bollinger bands are pinching on the weekly, which could give rise to a price appreciation if the trading breaks through the top bollinger band. These technical signals are inline with upcoming filings by both Fannie Mae and Freddie Mac expected sometime in November. Positive news, along with technicals, as seen in the weekly FMCC, will likely help the price appreciation expected by those currently holding shares or buying leading up to the financials. There is still much in the way of proving that FMCC will remain viable in the long-run (i.e. won't be disbanned by the gov't), but the technicals are bullish at this time.
FMCC Weekly Chart1
Disclosure: This is not a solicitation to buy or sell the stock mentioned above. This is simply to feature a stock and it's trading technicals.
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