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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Potential Short Sale For Dentsply Intl Inc (NASDAQ: XRAY) 0 comments
    Mar 19, 2013 2:34 PM | about stocks: XRAY

    March 20, 2013 (by Frank Kollar)

    There is a potential short sale set up on the daily chart for shares of Dentsply Intl Inc (NASDAQ: XRAY).

    The company designs, develops, manufactures and markets a full range of professional dental products, including dental implants, endodontic instruments and materials, orthodontic appliances.

    Dentsply just completed its acquisition of acquisition of Astra Tech AB from AstraZeneca. Shares prices have not responded positively.

    But our bearish view is based on the daily chart.

    XRAY has a very well defined double top in place after reaching its highest level since 2007.

    If shares close below the prior correction lows at about $40.75, we would be looking for continued selling over coming weeks.

    Chart Courtesy of StockCharts.com

    A short sale at a close below $40.75 would be a fairly low risk trade with a buy stop near $43.00. Downside target at about $36.00 a share.

    The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy does not have a position in Dentsply Intl.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: XRAY
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