Interesting Chart Pattern for Symantec
Corp (NASDAQ: SYMC) Says Market Timer Frank Kollar
October 6, 2009 (FinancialWire) (By Frank Kollar)
Shares of Symantec Corp (NASDAQ: SYMC) are in a long term
pennant formation that began all the way back in April
2009.
A line drawn to the right from the May 4 through the July
23 highs and continued to current, marks the upper declining
trend resistance line for the pennant. A line drawn to
the right from the May 26 lows, through the July 31, August
17 and September 3 lows and continued to current, marks
the rising trend support line for the pennant.
A break of either line will likely see follow-through
trading in the direction of the break.
Right now Symantec is headed towards the declining trend
resistance line. If it is broken to the upside, Symantec
may have a long way to rally.
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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