Adobe Systems Holds At Support, Says Market Timer Frank Kollar
September 29, 2009 (FinancialWire) (By Frank Kollar) — Shares of Adobe Systems Inc (NASDAQ: ADBE) declined to its 50-day moving average last week, then held at that level for two days while the market continued lower.
On Monday, September 28, Adobe reversed to the up side, gaining 3% on increasing volume.
The 50-day moving average is a mainstay of investors, many who use it to determine the short term trend of a stock or even the entire stock market.
But Adobe has tested this level three times since breaking above it back in March 2009 after the bear market decimated this widely followed tech stock. So far the 50-day has held each time and rebounded to new highs.
There is every reason to expect the same result this time.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Adobe Systems.
Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.
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.
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.
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