Dell Inc (NASDAQ: DELL) Shares at 2001 Lows Says Market Timer Frank Kollar
September 23, 2008 (FinancialWire) (By Frank Kollar)
Shares of computer maker Dell Inc (NASDAQ: DELL) reached lows at $16.01 back in year 2001 at the bottom of the last bear market.
On Monday, September 22, Dell closed at $16.57 and last week Dell made a closing low at $15.98.
Dell is obviously at a crossroads here. Should shares of this huge computer maker make a decisive close below its 2001 lows, it could open the floodgates to a new round of selling.
How low could Dell go? If support is broken look for Dell to decline all the way to its next support level, at $13.21 a share.
On the flip side, a reversal from current levels could mark a bottom here.
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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