BP (BP) Moving Higher WIth Oil Prices Trading Lower
Posted: Friday, March 12, 2010 2:13 PM EDT
By: Market Intelligence Center Staff
BP (NYSE: BP) opened at $56.69. So far today, the stock has hit a low of $56.52 and a high of $56.98. BP is now trading at $56.86, up $0.26 (0.46%). The stock hit its 52-Week high of $62.38 in January and set its 52-Week low of $36.96 last March. BP is trading up today as oil prices fall by $1.22 to $80.89 a barrel. Technical indicators for the stock are bullish and S&P gives BP a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on BP the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]
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