- Technical Market Commentary -

September 3, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of Sempra Energy (NYSE: SRE) have taken off.  On Thursday, September 2, SRE broke-out above the stock’s prior closing rally high of $52.43 to close at $53.44. That is also above the important 61.8% retracement resistance level for the entire January to June 2010 decline, at $52.13.

The close above resistance, combined with a breakout for shares, points to a likely run in coming weeks to the old December 2009 closing highs at $56.88 per share.

If it is reached, $56-57 will be a tough resistance level for Sempra, as that level has not been surpassed since October 2008.

Our target for Sempra is $57.00 per 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.)

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

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