PepsiCo (PEP) Hits New High Following News Of Stock Buyback

Posted: Monday, March 15, 2010 3:19 PM EDT
By: Market Intelligence Center Staff





PepsiCo (NYSE: PEP) hit a new 52-Week high of $66.26 so far today. Currently the stock is up $0.88 (1.35%) to $65.98 on 6,876,365 shares traded. Today's high is up $18.48 from a 52-Week Low of $47.50. PepsiCo stock has been showing support around $64.44 and resistance in the $65.58 range. Technical indicators for the stock are neutral and S&P gives PEP a neutral 3 STARS (out of 5) hold ranking. Pepsi hit a new 52 week high today after the company announced a $15 billion stock buy back. If you are looking for a hedged play on PEP the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 55 range. [ABR-Seven Summits Strategic Investments NewsBite]



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http://www.marketintelligencecenter.com/newsbites/1333744


Hedged Trade Ideas For PEP:

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