Breakout Again for Sempra Energy (NYSE: SRE)
Says Market Timer Frank Kollar
August 4, 2010 (FinancialWire) (By Frank Kollar)
It was two weeks ago when we wrote that shares of Sempra
Energy (NYSE: SRE) had broken out. On Tuesday, August 3,
they broke out again.
Share prices held around $51.00 for a week and then, after
two days of profit taking on July 29 and July 30, Sempra
rallied and on Tuesday, August 3, broke above the congestion
and closed at $51.36 a share.
Share prices should continue to move higher in coming
days.
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.
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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