New York, NY – (NISMAGAZINE) –09/20/2013- Federal National Mortgage Association (OTCBB:FNMA) moved higher by 6.84% after trading 12.35M shares. Mortgage rates are likely to see downward pressure after the Fed, in a surprise move, refrained from pressing ahead with its threatened tapering. Like its sibling, FMCC, Fannie Mae too has started to look up on the charts and is setting up higher highs and higher lows.
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GT Advanced Technologies Inc (NASDAQ:GTAT) rose 10.6% to $8.35 after trading 19.53M shares. The stock headed for the moon after analysts at UBS upgraded it from Neutral to Buy when a survey indicated the increasing usage of sapphire content in the latest mobile products. GTAT is a producer of sapphire material and also builds the furnaces that are needed to create sapphire products. Last week analysts at Cannacord Genuity reaffirmed their buy rating on GTAT shares. Yesterday the stock opened with a big upside gap and touched a new 52-week high of $8.82. On the weekly chart the stock has pushed through the 200-week moving average and confirmed its bullish purpose as indicated by us on August 19. It may be noted that the new Apple iPhone 5S uses a sapphire home button that also functions as a fingerprint reader. Technical experts predict that this could set the stage for more applications of sapphire glass in various electronic products.
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