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Tyco Electronics (TEL) Upgrade Alert, Watch for 11.5% Technical Uptrend Continuation - 10/14/2009 8:48:27 AM

By Chip Brian, SmarTrend Analytics Team
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Tyco Electronics (NYSE:TEL) upgraded to Buy from Neutral at Longbow. The stock closed yesterday at $22.51 on volume of 2,765,300 shares, below average daily volume of 5,351,276.

Tyco Electronics is currently above its 200-day moving average of $17.35 and should find resistance at its 50-day moving average of $22.76.

SmarTrend is bullish on shares of TEL and our subscribers received an Uptrend alert on July 24, 2009 at $20.18, which has returned 11.5% to date.

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