Earn Cash From King Pharmaceuticals (KG)'s New High

Posted: Thursday, November 19, 2009 12:32 PM EDT

King Pharmaceuticals (NYSE: KG) hit a new 52-Week high of $11.91 so far today. Currently the stock is up $0.67 (5.98%) to $11.87 on 4,102,031 shares traded. Today's high is up $6.01 from a 52-Week Low of $5.86. King Pharmaceuticals stock has been showing support around $10.98 and resistance in the $11.44 range. Technical indicators for the stock are neutral and S&P gives KG a neutral 3 STARS (out of 5) hold ranking. KG is rising in today's market, and the stock rose to a new 52 week high earlier in the session. If you are looking for a hedged play on KG the stock seems like it could be a candidate for an April in-the-money call debit spread below the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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