Energy Conversion Devices (ENER) One of Today's Top Gainers On Buyout Rumors
Posted: Thursday, December 10, 2009 2:38 PM EDT
By: Market Intelligence Center Staff
Energy Conversion Devices (ENER) leads the list of top gainers so far today on rumors that the company could be an acquisition target for Applied Materials (AMAT). The stock is now at $11.76, up $1.23 (11.68%) on volume of 7,370,371 shares traded. Over the last 52 weeks the stock has ranged from a low of $9.76 to a high of $30.45. Energy Conversion Devices stock has been showing support around $10.33 and resistance in the $10.77 range. Technical indicators for the stock are bearish and S&P gives ENER a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on ENER the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Energy Conversion Devices (ENER) Stock ReportSee what our analysts have uncovered about Energy Conversion Devices (ENER).