GlaxoSmithKline PLC (GSK) NewsBite - GSK Hits 52-Week High

Posted: Monday, November 23, 2009 11:23 AM EDT

GlaxoSmithKline PLC (NYSE: GSK) hit a new 52-Week high of $42.70 so far today. Currently the stock is up $1.12 (2.7%) to $42.65 on 852,101 shares traded. Today's high is up $15.50 from a 52-Week Low of $27.15. GlaxoSmithKline PLC stock has been showing support around $40.72 and resistance in the $41.96 range. Technical indicators for the stock are neutral and S&P gives GSK a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GSK the stock seems like it could be a candidate for a May out-of-the-money bull-put credit spread below the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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