Lower Lows Ahead for Shares of Radioshack Corp (NYSE: RSH)
Says Market Timer Frank Kollar
August 18, 2010 (FinancialWire) (By Frank Kollar)
Shares of Radioshack Corp (NYSE: RSH) rose on Tuesday’s
stock market rally, but there are dark clouds on the horizon.
Radioshack, which sells consumer electronics goods and
services through its RadioShack store chain and non-RadioShack
branded kiosk operations, has declined below a rising trend
support line that we described in a previous report.
This line is the lower line of a flag pattern that has
contained share prices since April. Draw a line on a daily
chart through the highs starting on April 21 and extend
it to the right of the chart. Then do the same thing for
the lows starting at May 21 and the lows on July 20, you
will have the flag pattern with a declining trend resistance
line and rising trend support line.
A break of this line has high odds of continuing in the
direction of the break.
On August 11 share prices broke below the trend support
line and since all rallies have stopped at or below this
line.
Radioshack could be headed for the $18 dollar level in
coming weeks.
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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