Federal National Mortgage Association (OTCBB:FNMA) Up 39.05%, Xumanii (OTCBB:XUII) Up 8.44%
Northern, WI 05/24/2013 (GDPInsider) – Federal National Mortgage Association (OTCBB:FNMA) has seen explosive trading today after starting at 2.26, 0.16 cents above its previous close. Since open the stock has climbed 39.05% on the back of extremely strong volume of 125,154,081, 260.96% above its average volume of 34,672,000. Since August 2012 FNMA has climbed a whopping 1,345% above its 52-week low of 0.20.
FNMA announced today that it plans to sell $2 billion worth of benchmark bills on May 29, 2013. $1 billion will be three-month bills due August 28, 2013 and the other $1 billion being six-month bills due November 27, 2013. There are industry-wide concerns that FNMA’s recent surge in earnings might be taking potential profits from mortgage lenders.
Since May 10, 2013 FNMA’s technical chart has shown a sharp uptick resulting in a northward climb. The stock has shot past its first and second resistance points of 2.32 and 2.54 respectively. The stock is trading 303.57% above its SMA50 of 0.56 and is heavily overbought with a RSI of 92.16.
Is FNMA a solid investment at these levels? Get exclusive data and trends here.
Xumanii (OTCBB:XUII) is up 8.44% on strong volume trading of 6.634 million. The stock opened at 0.32, dead even with its previous close of 0.32. Average volume is 7.781 million and the stock has a range of 0.29 and 0.3750. XUII has climbed 248% on its 52-week low of 0.10 since April 29, 2013 and the stock has had several positive trading sessions in the last five days. On May 20, 2013 XUII saw increases as high as 13.04%.
XUII develops proprietary HD broadcasting technology over wireless camera networks and has just announced the opening of major partnership talks with Abu Dhabi Media, a large scale media conglomerate that has holdings in several major media and online markets including Abu Dhabi Radio, Emarat FM Radio and Majid magazine. Abu Dhabi Media is also an investor in VEVO, the joint venture music video website operated by Sony Music Entertainment and Universal Music Group.
XUII has a RSI of 59.72, indicating that the stock has plenty of room to support its upward momentum and current market valuation.
How Should Investors Trade XUII Now? Get exclusive insights and updates here.
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