Kraft Foods (KFT) NewsBite - KFT Is On the Move

Posted: Monday, November 23, 2009 10:12 AM EDT

Kraft Foods (KFT) appears to be on the move today and is now at $27.32, up $0.15 (0.55%) on volume of 958,952 shares traded. Over the last 52 weeks the stock has ranged from a low of $20.81 to a high of $29.84. KFT was covered in a Vic Wisemann report today. To read the report, and see if Vic thinks we are in the middle of a stock market bubble, go to www.marketintelligencecenter.com/vw112309 . Kraft Foods stock has been showing support around $26.64 and resistance in the $28.10 range. Technical indicators for the stock are bearish and S&P gives KFT a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on KFT the stock seems like it could be a candidate for a June out-of-the-money bull-put credit spread below the 24 range. [ABR-Seven Summits Strategic Investments NewsBite]

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