Sara Lee (SLE) NewsBite - SLE Hits 52-Week High On News Of Possible Unit Sale

Posted: Wednesday, November 18, 2009 3:10 PM EDT

Sara Lee (NYSE: SLE) hit a new 52-Week high of $12.31 so far today, helped by reports that the company may sell its air-freshner business to S.C. Johnson. Currently the stock is up $0.11 (0.9%) to $12.31 on 2,945,113 shares traded. Today's high is up $5.51 from a 52-Week Low of $6.80. Sara Lee stock has been showing support around $11.83 and resistance in the $12.39 range. Technical indicators for the stock are neutral and S&P gives SLE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on SLE the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (SLE)