How Low Can Dell Inc (NASDAQ: DELL) Go? Asks Market Timer Frank Kollar
September 18, 2008 (FinancialWire) (By Frank Kollar)
Shares of computer maker Dell Inc (NASDAQ: DELL) have taken a huge hit over the past several weeks, losing some 38%.
The declines began when Dell hit $26.00 a share back on August 28, and have not let up since.
Dell has reached a strong support level at $15.90 and so far, that support has held. We would not consider a bullish position though unless Dell can get back above $18.75 a share, a long way from current levels.
We also would watch the $15.90 level because if it should be broken to the downside, Dell will probably decline all the way to its next support level, at $13.21 a share.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy has a position in Dell Inc .
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.
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.
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