Higher Highs Ahead for AmerisourceBergen
Inc (NYSE: ABC) Says Market Timer Frank Kollar
June 29, 2010 (FinancialWire) (By Frank Kollar)
Shares of AmerisourceBergen Inc (NYSE: ABC) are holding
up exceedingly well in a very weak stock market.
With the S&P 500 Index (SPX) correcting some 12% over
the past two months, shares of AmerisourceBergen lost only
about 5%, peak to trough, at its worst.
On Monday, June 28, with the stock market again closing
on the downside, AmerisourceBergen posted a 2% gain and
also broke above a strong resistance level at $32.33 a
share.
The close above resistance forecasts a continued advance
to the next resistance level. That means AmerisourceBergen
should continue its advance to $37.48, a 15% gain, before
substantial resistance is again reached.
During times when the markets correct, share of companies
like AmerisourceBergen are insurance against losses. And
when the market turns around, shares of AmerisourceBergen
will outperform those of most of the beaten down companies.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy holds a position in AmerisourceBergen.
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. |
