Strong Earnings Push Donaldson (DCI) To New Highs

Posted: Thursday, November 19, 2009 12:55 PM EDT

Donaldson (NYSE: DCI) hit a new 52-Week high of $45.09 so far today. Currently the stock is up $3.51 (8.47%) to $44.97 on 1,411,980 shares traded. Today's high is up $23.15 from a 52-Week Low of $21.82. Donaldson stock has been showing support around $40.35 and resistance in the $42.39 range. Technical indicators for the stock are and S&P does not currently have a STARS rating for DCI. The stock is trading higher today, and rose to a new 52 week high earlier in the session following yesterday's strong earnings release. The company reported 45 cents per share for its fiscal first quarter, above analyst estimates for 34 cents per share. If you are looking for a hedged play on DCI the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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