Seagate Technology (STX) NewsBite - STX Upgraded By Collins Stewart

Posted: Wednesday, July 22, 2009 1:43 PM EDT

Seagate Technology (STX) was upgraded today by analysts at Collins Stewart and the stock is now at $11.97, up $0.77 (6.87%) on volume of 16,557,222 shares traded. The brokerage upped the stock to Hold from Sell. Over the last 52 weeks the stock has ranged from a low of $2.98 to a high of $16.75. Seagate Technology stock has been showing support around $10.54 and resistance in the $11.56 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 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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