Dividend News Pushes Estee Lauder (EL) Near Its High But There Are Still Ways To Profit From This Stock

Posted: Friday, November 13, 2009 12:41 PM EDT

Estee Lauder (NYSE: EL) opened at $46.56. So far today, the stock has hit a low of $46.14 and a high of $46.78. EL is now trading at $46.62, up $0.16 (0.34%). The stock hit its 52-Week high of $47.61 in earlier this week and set its 52-Week low of $19.81 in March. The stock is trading higher today, and rapidly approaching its 52 week high level. Earlier today that company announced an annual dividend of $0.55 a year. Technical indicators for the stock are neutral and S&P gives EL a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on EL the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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