Vivo Participacoes (VIV) NewsBite - VIV Upgraded By Oscar Gruss

Posted: Friday, November 06, 2009 2:22 PM EDT

Vivo Participacoes (VIV) was upgraded today by analysts at Oscar Gruss and the stock is now at $28.67, up $0.08 (0.28%) on volume of 1,161,695 shares traded. The brokerage upgraded the stock to Buy from Hold. Over the last 52 weeks the stock has ranged from a low of $8.62 to a high of $29.02. Vivo Participacoes stock has been showing support around $26.97 and resistance in the $29.51 range. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for VIV. If you are looking for a hedged play on VIV the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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