Arch Coal (ACI) NewsBite - Upgrade Boosts Arch Coal

Posted on Thursday, August 21, 2008 12:35 PM

Arch Coal (ACI) was upgraded today by analysts at UBS and the stock is now at $56.35, up $3.98 (7.60%) on volume of 4,566,991 shares traded. The brokerage firm raised its rating on the stock to "Buy" from "Neutral." Over the last 52 weeks the stock has ranged from a low of $28.59 in August to a high of $77.40 in June. Arch Coal stock has been showing support around $48.73 and resistance in the $55.01 range. Technical indicators for the stock are bullish and S&P gives ACI a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on ACI the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]