Tellabs, Inc (NASDAQ: TLAB) Breaks Out Says Market Timer Frank Kollar
October 28, 2008 (FinancialWire) (By Frank Kollar)
Though shares of Tellabs, Inc (NASDAQ: TLAB) have been hit hard by the stock market declines, as most stocks have, they have put in what appears to be a solid bottom.
Over the past month, share prices have tested the $3.25 level five times and it has held. This is the closing price we are looking at.
On Monday, October 27, while the stock market again shed several percent, TLAB managed to push higher adding 4.5% and also closed above every high it has made since October 6.
The stock market is much riskier than usual and this stock, which traded above $15 a share only a couple years ago, has come down a long way. But we should see some upside in coming weeks unless the financial markets continue to throw hardballs at us
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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