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News Breaks
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November 3, 2009
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| 15:19 EDT |  | TEL |
| theflyonthewall.com: | Tyco Electronics: Earnings release technical preview, small short-base | | BULLISH CASE: On better than expected news/outlook the stock could trade to the upper limit of the short-term bearish price channel at $21.78. On a bullish breakout above the price channel the following resistance levels would become upside objectives: $23.69, $24.20, $24.90, $25.76, $27.39. BEARISH CASE: On worse than expected news/outlook the stock could trade to the lower limit of the price channel at $20.27. On a bearish breakdown below the price channel the following support levels would become downside objectives: $19.90, $19.23, $19.08, $18.95, $18.79, $18.71, $18.68, $18.35, $18.31, $18.16, $18.14, $17.86. NOTE: Very small short-base at 1 day to cover, with 0.7% of the float short. Traders are positioned for positive news. Reactions on a surprise, especially a negative one given the small short-base, have a high probability of being extreme in duration and price. :theflyonthewall.com |
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