Vulcan Materials Co (NYSE: VMC) Headed Higher Says Market Timer Frank Kollar
December 9, 2008 (FinancialWire) (By Frank Kollar)
Shares of Vulcan Materials Co (NYSE: VMC) rallied some 10% in trading Monday, December 8 and appears to have considerable upside potential left.
VMC has a double bottom in place after losing 50% of its value in the bear market. That bottom, at $40.00 a share, launched the current rally that has resulted in a sustained advance on rising volume.
VMC should reach $80.00 a share in coming days. This was its previous September rally high and will likely result in strong resistance. If VMC can make a decisive close above $80, the potential for a run to $100 a share is strong.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy has a position in Vulcan Materials .
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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