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Tech Data (TECD) Dropped Over 2% Friday And Stock In Tight Support/Resistance Range

Nov 02, 2009 (Fresh Brewed Media via COMTEX) --

Company: Tech Data Corp. (TECD)

Tech Data (NasdaqNM: TECD) ended the last trading session at $38.43. So far the stock has hit a 52-week low of $14.14 and 52-week high of $44.63. Tech Data stock has been showing support around 37.48 and resistance in the 40.30 range. Technical indicators for the stock are Bearish and S&P gives TECD a neutral 3 STAR (out of 5) hold rating. TECD appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 35 covered call (TDQ AG) for a net debit in the $33.93 area. That is also the break even stock price for this trade. This covered call has a 75 day duration, provides 11.71% downside protection and a 3.15% assigned return rate for a 15.35% annualized return rate (comparison purposes only). Tech Data does not pay dividends at this time.

ABR-Seven Summits Research Goto www.iotogo.com/18w1 for our free report titled, The 18 Ways To Know When It's Time To Dump A Stock

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News Provided by COMTEX

Company: Tech Data Corp. (TECD)


Related terms: dividends, research, S&P, trade

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