Adobe Systems Inc (NASDAQ: ADBE) Holds
at Support Says Market Timer Frank Kollar
September 29, 2009 (FinancialWire) (By Frank Kollar)
Shares of Adobe Systems Inc (NASDAQ: ADBE) declined to
its 50-day moving average last week, then held at that
level for two days while the market continued lower.
On Monday, September 28, Adobe reversed to the upside,
gaining 3% on increasing volume.
The 50-day moving average is a mainstay of investors,
many who use it to determine the short term trend of a
stock or even the entire stock market.
But Adobe has tested this level three times since breaking
above it back in March 2009 after the bear market decimated
this widely followed tech stock. So far the 50-day has
held each time and rebounded to new highs.
There is every reason to expect the same result this time.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy holds a position in Adobe Systems.
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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