Motorola (NYSE: MOT) Bounces At Support Says Market Timer Frank Kollar
November 14, 2007 (FinancialWire) (By Frank Kollar)
Shares of Motorola Inc (NYSE: MOT)) sold off with the rest of the stock market over the past weeks but faired much worse, losing 18% from its October highs. This decline may have created a good low risk trade.
Motorola had been in a long-term downtrend until the recent August through October rally broke out above resistance and appeared to have begun a new bullish trend. But the sharp loss in November took share prices back to the same support level that ended the downtrend.
Motorola may have a double bottom here and this appears to be a good trade setup. With very strong support at $16.00 a share, a long position here can be taken with a fairly tight sell stop set just below $16.00. A tight stop for a volatile tech stock and a low risk trade.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy may hold 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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