Adobe Systems At Support, Says Market Timer Frank Kollar
December 1, 2009 (FinancialWire) (By Frank Kollar) — Shares of Adobe Systems Inc (NASDAQ: ADBE) have risen 119% since their bear market lows in early March.
Adobe has always been a volatile stock, but in that volatility, if it trends, is the potential for profits. During the entire March through November advance, Adobe has held above its 50-day moving average for almost the entire time, with only a few short dips below it.
The 50-day moving average is one of the simplest of trading tools, but if it works, there is no reason to look for something more complicated. Adobe has again declined to the 50-day average and on Monday, November 30, shares dipped to touch the average intra-day for the second day in a row.
If the advance remains intact, we should see shares again rise to test their prior highs at the $37 dollar level in coming weeks.
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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