Adobe Systems (NASDAQ: ADBE) Ready For New Leg Up Says Market Timer Frank Kollar
June 6, 2007 (FinancialWire) (By Frank Kollar)
Shares of Adobe Systems Incorporated (NASDAQ: ADBE), who’s products deliver graphic design, publishing, and imaging software for print, web, and video production , touched resistance at the $44.89 level last week and pulled back. What’s next for this widely traded stock?
If Adobe manages to make a decisive close above $44.89 in coming days, look for a run to the $50.00 level in coming weeks. A failure here though, would likely result in a move down to at least $41.00 a share.
FibTimer.com (http://www.fibtimer.com) currently holds a position in Adobe in its Stock Timing Strategy
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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