VeriSign (VRSN) NewsBite - VRSN Downgraded By Wedbush Morgan

Posted: Friday, November 20, 2009 1:27 PM EDT

VeriSign (VRSN) was downgraded today by analysts at Wedbush Morgan and the stock is now at $21.55, down $0.33 (-1.51%) on volume of 4,196,648 shares traded. The analysts downgraded the stock to Neutral from Outperform. Over the last 52 weeks the stock has ranged from a low of $16.23 to a high of $24.99. VeriSign stock has been showing support around $21.21 and resistance in the $23.09 range. Technical indicators for the stock are bullish and S&P gives VRSN a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on VRSN the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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