Joy Global (JOYG) NewsBite - JOYG Downgraded By UBS
Posted: Tuesday, November 17, 2009 1:53 PM EDT
Joy Global (JOYG) was downgraded today by analysts at UBS and the stock is now at $56.93, down $1.91 (-3.25%) on volume of 2,278,431 shares traded. The analysts downgraded the stock to Neutral from Buy. Over the last 52 weeks the stock has ranged from a low of $14.30 to a high of $59.30. Joy Global stock has been showing support around $56.50 and resistance in the $60.44 range. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for JOYG. If you are looking for a hedged play on JOYG the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 65 range. [ABR-Seven Summits Strategic Investments NewsBite]
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