RadioShack (RSH) NewsBite - RSH Rises With Electronics Stores

Posted on Monday, July 07, 2008 10:08 AM

RadioShack (RSH) opened at $12.27. So far today the stock has hit a low of $12.27 and a high of $13.09. RSH is now trading at $12.89, up 0.63 (5.14%). After hitting a one-year high of $34.98 last July, the stock hit a one-year low of $11.58 last week. Shares of RSH are rising this morning with other elecronics stores this morning, as lower oil prices seem to be easing investors' worries that energy costs will cut into consumer spending. Technical indicators for RSH are bearish and steady, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an October bull-put credit spread below the $10 range. RSH hasn’t been below $11.50 at all in the past year and has shown support around $11.60 recently. This trade could be risky if the company's earnings (due out on 7/24) disappoint, but even if that happens, this position could be protected by the support the stock could find from bargain hunters who might think RSH is a deal at this price. [LHF- Seven Summits Strategic Investments NewsBite]