Profit Sharing Hits Avon Products (AVP) After Stock Sets New 52 Week High

Posted: Tuesday, November 17, 2009 2:01 PM EDT

Avon Products (NYSE: AVP) hit a new 52-Week high of $36.36 so far today. Currently the stock is down $0.13 (-0.36%) to $35.98 on 1,982,201 shares traded. Today's high is up $21.58 from a 52-Week Low of $14.40. Avon Products stock has been showing support around $34.94 and resistance in the $36.72 range. Technical indicators for the stock are neutral and S&P gives AVP a neutral 3 STARS (out of 5) hold ranking. Shares of cosmetic giant Avon are in the red this afternoon after trading up to a new 52 week high earlier in the session. If you are looking for a hedged play on AVP the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 31 range. [ABR-Seven Summits Strategic Investments NewsBite]

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