- Technical Market Commentary -

August 29, 2009 (FinancialWire) (By Frank Kollar) — Shares of DTE Energy Co (NYSE: DTE) have risen 104% since their March 2009 bear market lows. How much higher can this stock go?

There are higher highs ahead after DTE Energy broke above the Fib 78.6% retracement level for the entire bear market decline on Wednesday, April 28. Shares jumped a full 3% on this date.

DTE Energy has been strong for awhile, closing above the Fib 61.8% retracement level back in early December, declining from this resistance level for two months and then again surpassing this level with a great deal of strength on February 18.

The final resistance level for DTE Energy, the 78.6% retracement level at $48.04, has now been surpassed and this stock should be on track to make a run for its prior 2007 highs at $54.00 a share.

This is 12.5% above Wednesday’s close.

(Go to http://www.financialwire.net/?s=frank+kollar to see more commentaries by Frank Kollar.)

Frank 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.

Disclosure: The Fibtimer.com Stock Timing Strategy holds a position in DTE Energy.

The FirstAlert(tm) Economics Calendar lists Initial Jobless ClaimsInitial Jobless Claims (8:30 am ET); Treasury auctions 7-year notes (1 pm ET).

The FirstAlert(tm) Events Calendar showcases SKS, RAD and BBY at the Barclays Capital Retail and Restaurant Conference.

FirstAlert(tm) Website of the Day: http://www.pointnclickpcs.com/

Quote of the Day: "Thus, be it understood, to demonstrate a theorem, it is neither necessary nor even advantageous to know what it means." — Henri Poincare (04/29/1854 – 07/17/1912), French mathematician.

Today is: National Dance Day

Happy Birthday: 1745 – Oliver Ellsworth, 3rd Chief Justice of the United States (d. 1807); 1842 – Karl Millöcker, Dutch composer (d. 1899); 1863 – William Randolph Hearst, American publisher (d. 1951); 1893 – Harold Urey, Nobel Prize laureate (d. 1981); 1899 – Duke Ellington, American jazz pianist and bandleader (d. 1974); 1933 – Rod McKuen, American poet and composer; 1938 – Bernard Madoff, American convict, who was a financier and Chairman of the NASDAQ stock exchange; 1944 – Princess Benedikte of Denmark; 1951 – Dale Earnhardt, American race car driver (d. 2001); 1954 – Jerry Seinfeld, American comedian; 1958 – Michelle Pfeiffer, American actress; 1970 – Uma Thurman, American actress; 2003 – Barbaro, American thoroughbred racehorse (d. 2007).

Today in History: 1770 – James Cook arrives at and names Botany Bay, Australia; 1945 – World War II: The German Army in Italy unconditionally surrenders to the Allies; 1945 – World War II – Adolf Hitler marries his long-time partner Eva Braun in a Berlin bunker and designates Admiral Karl Dönitz as his successor. Both Hitler and Braun will commit suicide the next day; 1951 – A Tibetan delegation to the Chinese government is presented with a draft treaty regarding the Chinese occupation of Tibet; 1968 – The controversial musical Hair opens on Broadway; 1970 – Vietnam War: United States and South Vietnamese forces invade Cambodia to hunt Viet Cong; 1986 – Roger Clemens then of the Boston Red Sox sets a major league baseball record with 20 strikeouts in nine innings against the Seattle Mariners; 1992 – 1992 Los Angeles riots: Riots in Los Angeles, California, following the acquittal of police officers charged with excessive force in the beating of Rodney King. Over the next three days 53 people are killed and hundreds of buildings are destroyed; 2004 – Dick Cheney and George W. Bush testify before the 9/11 Commission in a closed, unrecorded hearing in the Oval Office.

[FirstAlert(tm) was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information. The opinions expressed in FirstAlert(tm) do not necessarily reflect the opinions of Investrend.]

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Streaming research on companies mentioned in the news is available via the Investrend Research Syndicate, courtesy of Stock Smart (at http://investrend.stocksmart.com/ss/html/hpcompany.html).

[ssryrsyr] [frstlrtrlts] [frstlrtdlycmmt] [cmmtry] [tchnlf] [mrktqr] [kllrfby]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.