CBRL Group (CBRL) NewsBite - CBRL Buying Opportunity Following Broker Upgrade

Posted: Thursday, November 12, 2009 12:23 PM EDT

CBRL Group (CBRL) was upgraded today by analysts at EVA Dimensions, LLC and the stock is now at $33.28, down $.09 (-0.27%) on volume of 48,095 shares traded. EVA Dimensions, LLC upgraded the stock today to Buy from Outperform. Over the last 52 weeks the stock has ranged from a low of $10.67 last November to a high of $36.90 last month. CBRL Group stock has been showing support around $32.82 and resistance in the $34.24 range. Technical indicators for the stock are bearish and S&P gives CBRL a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on CBRL the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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