JDS Uniphase Corp (NASDAQ: JDSU) Tests Resistance Again Says Market Timer Frank Kollar
July 18, 2007 (FinancialWire) (By Frank Kollar)
Shares of JDS Uniphase Corp (NASDAQ: JDSU) have been in decline since March 2006, losing 53% in the process. During this decline, there have four attempts to reverse the decline and break out to the upside. JDSU is again trying to break out.
JDSU is right at the declining upper resistance line that has held this stock in check since September 2006. Should JDSU close above $17.00 a share in coming days, it will have broken decisively above resistance for the first time in a year. Bullish traders can use the line of resistance, currently at $15.70, as a sell stop.
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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