Breakout for Sempra Energy (NYSE: SRE)
Says Market Timer Frank Kollar
July 23, 2010 (FinancialWire) (By Frank Kollar)
Shares of the Sempra Energy (NYSE: SRE) have broken out
above resistance. Share prices should have higher highs
ahead.
Sempra Energy lost some 23% in 2010 as shares dropped
from a high of $57 to bottom at $43.91 in intra-day trading
on May 25.
The broad market rally on Thursday, July 22 boosted Sempra’s
shares by over 2% to $50.35 at the close.
This closing high was above the prior rally’s high
of $50.10 reached on June 18. This is a breakout for shares
of Sempra Energy which are well above their 50-day moving
average but remain a fraction below their long-term 200-day
moving average.
Shares of Sempra Energy should reach at least $52.13 in
this advance. A close above $52.13 would likely result
in an advance that tests the old highs at $57 a share.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy holds a position in Sempra Energy.
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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