Aluminum Corp. of China (ACH) NewsBite - Lower Aluminum Prices Drag Down ACH

Posted on Wednesday, May 07, 2008 1:57 PM

Aluminum Corp. of China Ltd. (ACH) opened at 42.58. So far today, the stock has hit a low of 42.15 and a high of 42.67. ACH is now trading at 42.10, down 2.06 (-4.84%). The stock hit its 52 week high of 90.95 in October and set its 52 week low of 30.30 in May. ACH has been losing ground since October of last year. Aluminum Corp. of China shares have been plunging in today's session due to lower aluminum prices. Technical indicators for the stock are neutral but deteriorating while S&P gives ACH a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an August bear-call credit spread above the $60 range. ACH stock could rise up to 42.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]