Express Scripts, Inc. (NASDAQ: ESRX) Nears Breakout Says Market Timer Frank Kollar
December 23, 2008 (FinancialWire) (By Frank Kollar)
Shares of Express Scripts, Inc. (NASDAQ: ESRX) are nearing what could be a breakout level.
Express Scripts reached a closing high of $61.78 in its last advance on November 5, 2008. Shares then declined and made a successful test of their bear market lows on November 20. The original lows were made on October 27.
Express Scripts shares are again in rally mode and closed on Monday, December 22 at $59.89 a share. If Express Scripts can make a decisive close above $61.78 in coming days, they should break out to higher highs and could easily rally to the $70.00 level.
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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