Bemis Inc (NYSE: BMS) Headed Higher Market Timer Frank Kollar
December 3, 2008 (FinancialWire) (By Frank Kollar)
Shares of Bemis Inc (NYSE: BMS) have gained 18.7% since bottoming on October 15.
Even though shares are quite volatile, the trend has been higher since those lows and the expectation is for a test of the prior rally highs, at $29 a share, in coming weeks.
Currently, support is at $22.40 a share.
There is little upside potential above $29 a share so if this level is reached, it is a good place to take profits and await another decline before taking any further long positions.
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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