Higher Highs Ahead for Radioshack Corp
(NYSE: RSH) Says Market Timer Frank Kollar
June 10, 2010 (FinancialWire) (By Frank Kollar)
Back in April, Radioshack Corp (NYSE: RSH) reached its
61.8% retracement of its bear market declines at $24.06
and, after several attempts to surpass this level, reversed
and headed lower.
Shares of Radioshack corrected to their 200-day moving
average and on May 25 reversed to the upside. Share prices
have been heading higher since.
Radioshack is again headed to $24.06, the resistance level
that stopped its advance back in April.
Radioshack looks like it is going to retest this resistance
in coming weeks, and if it can surpass it, has a good shot
of advancing all the way to $28.74 a share. This would
be a 30.6% gain from current levels.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy holds a position in Radioshack.
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. |
