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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 Sempra Energy (NYSE: SRE) 0 comments
    Jul 22, 2010 4:48 PM | about stocks: SRE

    July 23, 2010

    Shares of the Sempra Energy (NYSE: SRE) have broken out above resistance. Share prices should have higher highs ahead.

    Sempra Energy 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 Thursday, 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.

    The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Sempra Energy.

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