Bottom In for Dell Inc (NASDAQ: DELL)? Says Market Timer Frank Kollar
October 7, 2008 (FinancialWire) (By Frank Kollar)
Shares of computer maker Dell Inc (NASDAQ: DELL) may have reached a bottom in its year-long correction from 2007 highs.
We say this cautiously because the stock market is so volatile of late and should it reach considerably lower lows, support levels for Dell may not hold.
It looks like the $15.00 level may be a long term bottom. In September, Dell declined below $15.00 and reversed to close higher. On Monday, October 6, Dell again broke $15.00 and closed at $14.86. Not a huge reversal but well off its lows.
We are watching for evidence of a bottom here, such as a bullish reversal day.
The next support level for Dell is all the way down at $12.76, some 14% below the current price.
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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