- Technical Market Commentary -

July 23, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of Sempra Energy (NYSE: SRE) have broken out above resistance. Share prices should have higher highs ahead. Sempra lost some 23% in 2010 as shares dropped from a high of $57 to bottom at $43.91 in intra-day trading on May 25. The broad market rally on July 22 boosted Sempra’s shares by over 2% to $50.35 at the close. This closing high was above the prior rally’s high of $50.10 reached on June 18. This is a breakout for shares of Sempra Energy which are well above their 50-day moving average but remain a fraction below their long-term 200-day moving average. Shares of Sempra Energy should reach at least $52.13 in this advance. A close above $52.13 would likely result in an advance that tests the old highs at $57 a share.

(Go to http://www.financialwire.net/2010/04/22/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby+cmmtry for more of Kollar’s commentaries.)

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Disclosure: Frank Kollar’s Fibtimer.com Stock Timing Strategy holds a position in Sempra Energy.

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