Medimmune Inc (NASDAQ: MEDI) Still In Rally Mode Says Market Timer Frank Kollar.
June 26, 2006 (FinancialWire) (By Frank Kollar)
Shares of Medimmune, Inc. (NASDAQ: MEDI) have been on a roll since reversing a four-month downtrend in August 2006. Is there room still to profit on the upside?
Medimmune shares, which reached a low of $25 in July, have rebounded almost 33% in the current advance. Last week Medimmune closed above critical resistance at $32.50 a share which forecasts a likely run to at least $34.70 in coming weeks. A decisive close above $34.70 would forecast a run for the prior 2006 highs above $37 a share.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy has an open position in Medimmune.
Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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