WEDNESDAY MORNING TRADING WITH CJ

Every single morning brings new opportunities with it.

That’s why I’m trading the morning market every single day.

In fact, I go live at 10:30AM ET to help you make the most of today’s best trades.

Click here to join me on Money Morning LIVE.

 

PENNY STOCK HIGHLIGHT: FNMA

Founded in 1938, the Federal National Mortgage Association (OTCMKTS: FNMA) is also known as Fannie Mae.

The company is one of the largest corporations in America and we can position ourselves for a real estate profit using FNMA.

Despite many calling an end to the housing market, we continue to see strong demand and slightly growing supply.

This combination means that companies that are associated with mortgage financing, like FNMA, will continue to see strong demand through the beginning of 2022.

LET’S GET TECHNICAL

Shares of FNMA recently posted a bottom below $0.80 and are now threatening to break into a bullish volatility move higher.

The 20- and 50-day moving averages are transitioning into a short and intermediate term bullish trend as stock volume is slowly on the rise.

Shares are also pressing against the round-numbered, psychologically significant $1.00 price of which a break above will spark additional buying of the stock with an initial target of $1.20.

All signs suggest now is the time to go in on FNMA.

ACTION TO TAKE

Buy FNMA for a limit of $0.97. Add a 10% trailing stop when the stock hits $1.20.

I’ll be back tomorrow with even more updates from the over-the-counter market.

Of course, I’m also available in the members only group chat, as well as the Monday to Thursday trading session for Night Tradersclick here for more details on my premier trading research service.

Until next time,


Chris Johnson


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