Shares of Dell Inc (NASDAQ: DELL) Decline to Support
Says Market Timer Frank Kollar
August 25, 2010 (FinancialWire) (By Frank Kollar)
Shares of Dell Inc (NASDAQ: DELL) have been in a steep
decline since reaching 2010 highs back in April. From a
high at $17.52 a share, shares have reached $11.59 as of
the close on Tuesday, August 24, a 34% loss.
The $11.33 level is the 61.8% retracement support level
for the entire February 2009 to April 2010 advance. If
it is broken to the downside, share prices have no further
support until they reach $7.99, the February 23, 2009 closing
lows.
This would be an additional 31% loss in share value.
We would not take a position in shares of Dell Inc unless
the downtrend is reversed. That would take a reversal and
close above $14.00 a share, an unlikely event for the near
term.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy does not currently hold a position
in Dell Inc.
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. |
