SAP AG (SAP) Downgraded By Wedbush Morgan

Posted: Tuesday, November 24, 2009 1:44 PM EDT

SAP AG (SAP) was downgraded today by analysts at Wedbush Morgan and the stock is now at $48.04, down $0.35 (-0.72%) on volume of 1,958,101 shares traded. The analysts downgraded the stock to Underperform from Neutral. Over the last 52 weeks the stock has ranged from a low of $31.13 to a high of $52.73. SAP AG stock has been showing support around $47.80 and resistance in the $49.12 range. Technical indicators for the stock are bullish and S&P gives SAP a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on SAP the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 55 range. [ABR-Seven Summits Strategic Investments NewsBite]

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