RadioShack Settles In at Support

By the close of last week, RadioShack (RSH) had given back the bulk of its powerful June 26 breakout. News of an agreement with Verizon (VZ) far overshadowed the company's second-quarter earnings miss. Investors reacted very positively to the Verizon news, lifting shares to a huge gap-higher open. RSH finished the June 26 session with a 20% gain on extremely heavy volume.

As the week continued, the upside momentum faded, and by late Friday the stock was trading back down near key support at its early July peak. Today, RSH is showing some resilience in the face of a steep downside market reversal. The stock is well off its early highs but has remained above Friday's lows. The $14 area is providing support, allowing RSH to settle in after last week's volatile action....315 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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