Setback for Shares of Radioshack Corp
(NYSE: RSH) Says Market Timer Frank Kollar
July 15, 2010 (FinancialWire) (By Frank Kollar)
Shares of Radioshack Corp (NYSE: RSH) appeared to break
out on heavy volume Tuesday, July 13. But the rally reversed
the following day.
Tuesday’s rally broke above and closed above a declining
trend resistance line created by lower rally highs on 4/21,
6/14 and 7/12. The rally also broke above the 61.8% retracement
level for the June correction.
Radioshack appeared to be headed for its prior highs at
the $24 level.
But CNBC announced that potential buyers for this company
have dwindled and the prospects that Radioshack would be
sold were declining. On Wednesday July 14 share prices
declined 6%.
This stock is a very risky holding until the smoke clears.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy does not hold 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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but there is no guarantee that future results will be profitable. |
