Suntech Power (STP) NewsBite - STP Could Be On the Move

Posted: Monday, August 24, 2009 10:46 AM EDT

Suntech Power (STP) could be on the move today and is now at $14.89, down $0.41 (-2.68%) on volume of 1,791,177 shares traded. Over the last 52 weeks the stock has ranged from a low of $5.09 to a high of $48.64. STP was covered in a Vic Wisemann report today. To read the report, go to www.marketintelligencecenter.com/vw082409 . Suntech Power stock has been showing support around $14.45 and resistance in the $16.29 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 a December out-of-the-money bear-call credit spread above the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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