Nortel Networks (NYSE: NT) NewsBite - Nortel Networks Price Target Slashed

Monday, September 08, 2008 2:39 PM EDT

Nortel Networks (NYSE: NT) hit a new 52-Week low of $5.41 so far today. Currently the stock is down $0.23 (-4.01%) to $5.50 on 5,160,990 shares traded. Today's low is down $14.00 from a 52-Week high of $19.50. Nortel Networks stock has been showing support around $5.53 and resistance in the $5.95 range. Technical indicators for the stock are bullish and S&P gives NT a positive 4 STARS (out of 5) buy ranking. Nortel Networks shares have been slipping today as a RBC Capital analyst lowered his price target on the stock from $8 to $6. We will just watch this one for now. There are no hedged trades we like the look of for NT. [ABR-Seven Summits Strategic Investments NewsBite]

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