LG Philips (LPL) NewsBite - LPL Hits 52-Week Low

Friday, August 29, 2008 12:28 PM EDT

LG Philips (NYSE: LPL) hit a new 52-Week low of $12.29 so far today. Currently the stock is down $0.40 (-3.15%) to $12.30 on 151,631 shares traded. Today's low is down $18.99 from a 52-Week high of $31.29. LG Philips stock has been showing support around $12.52 and resistance in the $12.90 range. Technical indicators for the stock are neutral and S&P gives LPL a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on LPL the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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