PG&E Corp (NYSE: PCG) Headed Lower Says Market Timer Frank Kollar
June 25, 2006 (FinancialWire) (By Frank Kollar)
PG&E Corp (NYSE: PCG) touched support at $45.23 two weeks ago and rallied. But the rally was short lived and PCG has now closed below two critical support levels.
The first support level was the $45.23 level but PCG also closed below its March 6 th lows at $45.10 thus confirming that lower lows lie ahead for this beleaguered stock. The next support level for PCG is at $43.59. Expect this level to be reached in coming days. A close below $43.59 would forecast even lower lows, to $41.26.
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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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