Lower Lows Ahead for Adobe Systems, Says Market Timer Frank Kollar

(financialwire.net via COMTEX) -- ADBE | Quote | Chart | News | PowerRating -- July 9, 2008 (FinancialWire) (By Frank Kollar) Shares of Adobe Systems Incorporated (NASDAQ: ADBE | Quote | Chart | News | PowerRating) have declined with the rest of the stock market but with a 10% loss from their 2008 highs, Adobe has held up better than most.

Where can traders expect to see a reversal in Adobe shares?

Adobe will reach strong support at about $37.75. It will reach critical support at $36.11. A reversal from these levels is likely unless the stock market hits considerably lower lows and drags Adobe down with it.

Watch for a reversal pattern for a bullish trade in coming weeks, using supports as a likely sell stop, but if Adobe closes below $36.00 a share, it will likely drop considerably further.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.

Kollar's research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

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Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 .

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