Wachovia Capital Trust (WB) NewsBite - WB Covered In a Lee Allen Report Today

Posted on Thursday, September 04, 2008 10:05 AM

Wachovia Capital Trust (WB) was covered in a Lee Allen Report today and the stock is now at $16.97, down $0.21 (-1.22%) on volume of 5,780,522 shares traded. To see the report go to http://www.iotogo.com/la90408 . Over the last 52 weeks the stock has ranged from a low of $7.80 to a high of $53.10. Wachovia Capital Trust stock has been showing support around $15.68 and resistance in the $18.00 range. Technical indicators for the stock are bearish and S&P gives WB a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on WB the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]