Foster Wheeler (FWLT) NewsBite - FWLT Hits 52-Week Low

Posted on Tuesday, August 19, 2008 3:52 PM
Foster Wheeler (NasdaqNM: FWLT) hit a new 52-Week low of $45.10 so far today. Currently the stock is up $.23 (0.5%) to $46.25 on 3,354,485 shares traded. Today's low is down $39.40 from a 52-Week high of $85.65. Foster Wheeler stock has been showing support around $44.97 and resistance in the $47.67 range. Technical indicators for the stock are bullish and S&P gives FWLT a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on FWLT the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 60 range. [ABR-Seven Summits Strategic Investments NewsBite]
Stocks To Watch Today: MS, PBR, GM, F, MRK, BTU, NEM, BJ, PRU, UNP, TEVA, ACE (Click Symbol For Latest News)

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