Dell Inc (NASDAQ: DELL) Below 2001 Lows Says Market Timer Frank Kollar
September 30, 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 29, Dell broke those lows and closed at $15.41.
Our strategies look at support and resistance levels to find potential tops and bottoms, and we have that potential bottom for Dell. The problem is; it is so low we have trouble believing it.
The next support level for Dell is all the way down at $12.76, some 17% below the current price. The stock market is being dominated by news events at this time and possibly this level will not be reached, but for now, Dell’s potential declines are looking ominous.
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.
Go to previous Press Releases & Trading Notes.
Note: These Press Releases are short term in nature. They may or may not reflect the same position as current subscriber reports which typically have longer time frames.
© Copyright 1996-2008, Kollar Market Analytics, Inc., All Rights Reserved.
FibTimer reports may not be redistributed without permission. These Trading Notes however may be distributed without permission.
Disclaimer: The financial markets are risky. Investing is risky. Past performance
does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
