Henry Schein Inc (NASDAQ: HSIC) Breakout Imminent Says Market Timer Frank Kollar
July 10, 2007 (FinancialWire) (By Frank Kollar)
Shares of Henry Schein Inc (NASDAQ: HSIC) took a tumble last April, reaching as low as $52.00 a share. Over the following months, that bottom was reached three more times and each time buyers stepped in and stopped the decline.
Since mid-June Henry Schein has been rallying from that bottom and on Monday shares topped a critical resistance at $55.12 a share, closing at $55.36 a share. This sets the stage for a run to the prior rally highs at $56.00 that should be tested over coming days. If Henry Schein breaks those highs, a new advance is very likely.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy currently has a position in Henry Schein.
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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