Motorola (NYSE: MOT) Tests Support…Again Says Market Timer Frank Kollar
April 30, 2007 (FinancialWire) (By Frank Kollar)
Motorola Inc (NYSE: MOT) has been in a seven-month slide that has loped 30% off its share price. Motorola reached a powerful support level in early April, just above $17.00 a share, and rebounded. What happens next?
Motorola’s rebound did not last long, reaching only about $18.15 a share by mid-April. Since then, the slide has continued and Friday’s close at $17.57 a shares places this stock only a few percent above the same long term support level.
If Motorola breaks below $17.00 a share, the next support is all the way down at $14.50 a share. Of course if support holds, the rebound could continue, but buyers beware, this stock has been very weak in a very strong market.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy has a position in Motorola.
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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