Bullish Continuation Wedge: Federal National Mortgage Association (FNMAS)
The Bullish Continuation Wedge in Federal National Mortgage Association (FNMAS) tells us after a temporary interruption, the prior uptrend is set to continue. A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
Current Price: $4.95
Price Target: $7.10 – $7.70
Pattern Duration: 19 days