QLogic Corporation (NASDAQ: QLGC) Rallies Says Market Timer Frank Kollar
March 28, 2007
Shares of QLogic Corporation (NASDAQ: QLGC), the designer and developer of storage networking infrastructure components sold to original equipment manufacturers, rallied on Tuesday to close at $17.51, while the rest of the stock market declined.
QLogic is now above a resistance level, at $17.37, which can be expected to act as support. Look for continued strength in this heavily traded stock that has the potential to reach $19.71 before serious resistance is met. But if the stock market heads lower, so will QLogic. Consider a stop at $16.50 for those taking long trades.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy currently has a position in the QLogic.
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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