Higher Highs For Anadarko Petroleum (NYSE: APC) Says Market Timer Frank Kollar
December 27, 2007 (FinancialWire) (By Frank Kollar)
Shares of Anadarko Petroleum (NYSE: APC) continued to rally in an advance that has suffered very little downside since a June-August correction.
Even the market sell off of two weeks ago did little to stop shares from moving higher. Anadarko has now closed above two major resistance levels and may very well be headed higher.
When resistance has been surpassed we expect a stock will likely reach the next resistance level and in this case that means Anadarko should reach $70.00 a share in coming days. In fact, the stock may reach as high as $72.87 before significant resistance is again reached.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy has a position in Anadarko Petroleum.
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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