Tyco Electronics (TEL) NewsBite - TEL Could Be On the Move

Tyco Electronics (TEL) could be on the move today and is now at $23.20, up $.42 (1.84%) on volume of 179,510 shares traded. Over the last 52 weeks the stock has ranged from a low of $7.40 to a high of $24.39. TEL was covered in a Vic Wisemann report today. To read the report, go to www.marketintelligencecenter.com/vw110909 . Tyco Electronics stock has been showing support around $22.32 and resistance in the $23.54 range. Technical indicators for the stock are bullish and S&P gives TEL a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on TEL the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 20 range.

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Related terms: S&P