Dominion Resources (D) NewsBite - D Downgraded By Citigroup

Posted: Friday, November 20, 2009 11:34 AM EDT

Dominion Resources (D) was downgraded today by analysts at Citigroup and the stock is now at $36.00, down $0.81 (-2.2%) on volume of 2,391,354 shares traded. The analysts reduced D to Sell from Hold. Over the last 52 weeks the stock has ranged from a low of $27.15 to a high of $38.24. Dominion Resources stock has been showing support around $36.45 and resistance in the $37.21 range. Technical indicators for the stock are bullish and S&P gives D a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on D the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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