Seagate Technology (STX) NewsBite - STX Upgraded By AmTech Research

Posted: Wednesday, June 17, 2009 2:10 PM EDT

Seagate Technology (STX) was upgraded today by analysts at AmTech Research and the stock is now at $9.42, up $.30 (3.29%) on volume of 6,198,714 shares traded. The brokerage upped STX to Buy from Hold. Over the last 52 weeks the stock has ranged from a low of $2.98 to a high of $21.59. Seagate Technology stock has been showing support around $8.85 and resistance in the $9.65 range. Technical indicators for the stock are bearish and S&P gives STX a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on STX the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 8 range. [ABR-Seven Summits Strategic Investments NewsBite]

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