Big Rally for
Radioshack Corp (NYSE: RSH) Says Market
Timer Frank Kollar
November 10, 2009 (FinancialWire) (By Frank Kollar)
Shares of Radioshack Corp (NYSE: RSH) jumped 14% on Monday,
November 9, after the company announced it would soon carry
Apple’s iPhone 3G and iPhone 3GS.
The rally puts share prices right at the 50% retracement
level ($20.70 reached intra-day) for Radioshack’s
entire July 2007 to March 2009 bear market decline.
While the 50% level is one where resistance can be expected,
it will likely be surpassed in coming days on momentum
alone. That will forecast a run to at least $24.06 a share,
the 61.8% retracement level for Radioshack.
If you are late getting into this trade, the $24.06 level
is still 21% higher than today’s close. There appears
to be room left to profit for Radioshack shareholders.
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. |
