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Breakout for DTE Energy Co (NYSE: DTE)

|Includes: DTE Energy Company (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 ( Stock Timing Strategy holds a position in DTE Energy.