QLogic (QLGC) In The News With Continued Trading Strength

Posted: Friday, November 13, 2009 2:26 PM EDT

QLogic (NasdaqNM: QLGC) hit a new 52-Week high of $19.45 so far today. Currently the stock is up $0.40 (2.12%) to $19.28 on 1,445,881 shares traded. Today's high is up $10.59 from a 52-Week Low of $8.69. QLogic stock has been showing support around $18.53 and resistance in the $19.39 range. Technical indicators for the stock are bearish and S&P gives QLGC a negative 2 STARS (out of 5) sell ranking. The stock has been trading strongly over the past 3 months, and rose to a new 52 week high earlier in the session. If you are looking for a hedged play on QLGC the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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