Tyco International (TYC) Dips Following New 52 Week High

Posted: Monday, November 23, 2009 2:18 PM EDT

Tyco International (NYSE: TYC) hit a new 52-Week high of $37.33 so far today. Currently the stock is down $0.26 (-0.71%) to $36.60 on 1,569,300 shares traded. Today's high is up $21.43 from a 52-Week Low of $15.17. Tyco International stock has been showing support around $35.89 and resistance in the $37.49 range. Technical indicators for the stock are neutral and S&P gives TYC a neutral 3 STARS (out of 5) hold ranking. Tyco continues to trade strongly following better than expected third quarter numbers earlier this month. The stock is down slightly in afternoon trading after hitting a new 52 week high earlier in the session. If you are looking for a hedged play on TYC the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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