- Technical Market Commentary -

October 7, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of Family Dollar Stores (NYSE: FDO) broke out above their previous 2003 highs on Tuesday, October 6. How much further can they rise?

Interestingly, share prices broke out the day before the company announced that it had entered an accelerated share-repurchase agreement with Wells Fargo Bank under which the retailer will buy back shares of its common stock as part of its previously announced $750 million repurchase authorization. So much for fairness.

Nevertheless, shares continued to soar in heavy trading on Wednesday, closing at $45.81, just below important resistance at $45.92.

FDO is extended here, but such conditions can last longer than anyone expects. The critical sign will be if this stock can make a decisive close above $45.92. If it does, FDO could reach $50 a share in short order.

(Go to http://www.financialwire.net/2010/05/01/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby for more of Kollar’s commentaries.)

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