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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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  • Breakout for DTE Energy Co (NYSE: DTE) 0 comments
    Apr 28, 2010 5:21 PM | about stocks: DTE

    April 29, 2010

    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.

    Disclosure: The Fibtimer.com (www.fibtimer.com) Stock Timing Strategy holds a position in DTE Energy.
    Stocks: DTE
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