Could Gannett Co (NYSE: GCI) Continue Lower? Asks Market Timer Frank Kollar
March 20, 2007
Gannett Co Inc (NYSE: GCI), an international news and information company that publishes 91 daily newspapers, including USA TODAY in the United States, and nearly 1,000 non-daily publications, took a dive after posting disappointing results last week. Is the sell off over?
Gannett’s share price plummeted below a critical support level at $56.19 last Friday. With a huge market rally this Monday, Gannett hardly participated. When a stock closes below support it usually reaches the next support level that, in Gannett’s case, is at $54.20. Traders should be watching this stock with the expectation that lower lows might very well be reached in coming days and weeks.
Fibtimer.com (http://www.fibtimer.com) holds a position in Gannett in its Stock Timer Portfolio.
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.
© Copyright 1996-2007, Kollar Market Analytics, Inc., All Rights Reserved.
FibTimer reports may not be redistributed without permission.
Disclaimer: The financial markets are risky. Investing is risky. Past performance
does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
