Higher Highs Ahead
for Weyerhaeuser Co (NYSE: WY) Says Market Timer Frank
Kollar
September 15, 2009 (FinancialWire) (By Frank Kollar)
Shares of Weyerhaeuser Co (NYSE: WY) closed on Monday,
September 14, at their highest level since the dark days
of October 2008.
In that month Weyerhaeuser shed 34% of its share value,
followed by an additional 50% loss over the ensuing months,
leading to the bear market bottom on March 1, 2009.
Monday’s rally took shares to $39.59 and was a breakout
day for Weyerhaeuser which spent the last two months trading
in the mid-30s and unable to make new highs despite a strong
stock market.
How high can Weyerhaeuser go?
In the short term shares should reach $45.62 which is
a critical resistance level. A decisive close above $45.62
could result in shares testing the $60 level in coming
months.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy holds a position in Weyerhaeuser.
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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for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
