Trade Alert - CommScope at New Lows | Stocks

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Trade Alert - CommScope at New Lows

Published on Tuesday, 24 August 2010 11:40 Written by TradersHuddle Staff

ctv New York, August 24th (TradersHuddle.com) - Shares of CommScope, Inc. (NYSE:CTV) booked a new 52 week low by trading below $19.19, traders are definitely monitoring CommScope's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

CommScope, Inc. (NYSE:CTV) manufactures, and markets coaxial cables and other high-performance electronic and fiber optic cable products primarily for communication applications. The Company also provides premise wiring for local area networks. CommScope sells its products around the world.

CommScope is currently trading -1.3% versus its previous trading session close, and it has calculated support and resistance at $20.73 and $22.62 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -1.03% from its previous trading close, which means that CommScope stock is underperforming the overall market.

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