See What's Pushing Zimmer (ZMH) To New Highs

Posted: Wednesday, November 18, 2009 12:13 PM EDT

Zimmer (NYSE: ZMH) hit a new 52-Week high of $57.89 so far today. Currently the stock is up $1.11 (1.96%) to $57.86 on 919,476 shares traded. Today's high is up $27.19 from a 52-Week Low of $30.67. Zimmer stock has been showing support around $54.96 and resistance in the $57.84 range. Technical indicators for the stock are bullish and S&P gives ZMH a positive 4 STARS (out of 5) buy ranking. Zimmer rose to a new 52 week high today after the stock was upgraded by UBS. The broker lifted its rating on the stock to Buy from Neutral. If you are looking for a hedged play on ZMH the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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