Line in the Sand for Dell Inc (NASDAQ: DELL) Says Market Timer Frank Kollar
July 23, 2009 (FinancialWire) (By Frank Kollar)
Shares of Dell Inc (NASDAQ: DELL) have made spectacular gains since bottoming in February. But how high can Dell go?
In early July Dell reached a rally closing high at $13.68. That level is key to the continuation of Dell’s strong advance. If Dell can make a decisive close above 413.68, look for a strong rally to the next resistance levels.
What are the next resistance levels? The 50% retracement for the period August 2008 to February 2009, a likely target for the short term, is at $16.98. The Fib 61.8% retracement, which is critical resistance, is at $19.13.
There is a good chance that Dell will reach the $16.98 level in coming months, even with the occasional market selloff along the way.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in Dell.
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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