March 29, 2011
Shares of RadioShack Corp (NYSE: RSH) rose almost 6% in heavy trading Monday, March 28 after an analyst said that he expected sales trends at the electronics retailer to remain “relatively consistent.”
RadioShack has been in the midst of a severe decline dropping some 39% in the past four months, from a high near $23.00 a share down to $14.00 a share.
There is strong resistance at $16.00. This is where the stock gapped down back in January and it has acted as resistance on several unsuccessful attempts to push above it.
A decisive close above $16.00 a share would be quite bullish and RadioShack has a great deal of upside potential. But for now that $16.00 level could be tough to break.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy does not currently hold a position in RadioShack.