WellPoint (WLP) Upgraded By JP Morgan

Posted: Monday, November 23, 2009 2:27 PM EDT

WellPoint Health Networks (WLP) was upgraded today by analysts at JP Morgan and the stock is now at $54.46, up $2.32 (4.45%) on volume of 2,942,696 shares traded. The analysts upgraded the stock to Overweight from Neutral. Over the last 52 weeks the stock has ranged from a low of $27.50 to a high of $55.73. WellPoint Health Networks stock has been showing support around $51.21 and resistance in the $52.71 range. Technical indicators for the stock are bullish and S&P gives WLP a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on WLP the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]

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