Shares of Sempra Energy (NYSE: SRE) Soar
Says Market Timer Frank Kollar
August 11, 2010 (FinancialWire) (By Frank Kollar)
Last we wrote that shares of Sempra Energy (NYSE: SRE)
had broken out. On Tuesday, August 10 shares prices posted
a bullish outside trend continuation day.
On Tuesday, August 3, Sempra broke above congestion and
closed at $51.36 a share.
On Tuesday, August 10, share prices broke above the 61.8%
retracement of the entire February to June 2010 decline.
This resistance level was at $52.13 and Sempra close at
$52.43.
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 test at least $57.00, the
prior January 2010 highs, in this advance. Our target for
Sempra is $57.00 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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