Reynolds American (RAI) Hits 52-Week High

Posted: Friday, November 27, 2009 11:46 PM EDT

Reynolds American (NYSE: RAI) hit a new 52-Week high of $51.62 so far today. Currently the stock is up $0.25 (0.49%) to $51.62 on 687,844 shares traded. Today's high is up $20.07 from a 52-Week Low of $31.55. Reynolds American stock has been showing support around $50.80 and resistance in the $51.76 range. Technical indicators for the stock are bullish and S&P gives RAI a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on RAI the stock seems like it could be a candidate for a May out-of-the-money bull-put credit spread below the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]

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