Randgold Resources (GOLD) NewsBite - GOLD Hits 52-Week High

Posted: Wednesday, November 11, 2009 1:32 PM EDT

Randgold Resources (NasdaqNM: GOLD) hit a new 52-Week high of $81.64 so far today. GOLD shares are getting support today from rising gold futures. Currently the stock is up $2.23 (2.84%) to $80.83 on 1,135,093 shares traded. Today's high is up $55.78 from a 52-Week Low of $25.05. Randgold Resources stock has been showing support around $74.67 and resistance in the $80.69 range. Technical indicators for the stock are bearish and S&P gives GOLD a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on GOLD the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 70 range. [ABR-Seven Summits Strategic Investments NewsBite]

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