Suntech Power (STP) NewsBite - STP Is On the Move

Posted: Friday, July 31, 2009 11:13 AM EDT

Suntech Power (STP) appears to be on the move today and is now at $18.08, down $1.19 (-6.18%) on volume of 5,142,381 shares traded. Over the last 52 weeks the stock has ranged from a low of $5.09 to a high of $48.64. Suntech Power stock has been showing support around $18.53 and resistance in the $19.87 range. Technical indicators for the stock are neutral and S&P gives STP a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on STP the stock seems like it could be a candidate for an August out-of-the-money bear-call credit spread above the 21 range. [ABR-Seven Summits Strategic Investments NewsBite]

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