Dell Inc (NASDAQ: DELL) Takes a Hit
Says Market Timer Frank Kollar
September 29, 2009 (FinancialWire) (By Frank Kollar)
Shares of computer maker Dell Inc (NASDAQ: DELL lost over
3% on Tuesday, September 29.
This widely traded tech company may have a bit further
to go on the downside.
The 50-day moving average is at $14.96, some 1.5% below
Tuesday’s close at $15.17. Below this is the 50%
retracement support level, for the July to September rally,
at $14.49 and then the critical 61.8% retracement support
level at $13.86.
If Dell breaks the 50-day average shares will likely reach
to the 50% retracement level.
It does not look like the big picture advance has ended.
But certainly there is the potential for additional corrective
declines in coming days if initial support does not hold.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy holds a position in Dell Inc.
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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