VeriSign (VRSN) NewsBite - VRSN Upgraded By AmTech Research

Posted: Wednesday, September 24, 2008 1:26 PM EDT

VeriSign (VRSN) was upgraded today by analysts at AmTech Research and the stock is now at $26.43, up $1.18 (4.67%) on volume of 1,677,838 shares traded. The brokerage upped VRSN to "Buy" from "Neutral." Over the last 52 weeks the stock has ranged from a low of $22.49 to a high of $42.50. VeriSign stock has been showing support around $24.16 and resistance in the $26.92 range. Technical indicators for the stock are neutral and S&P gives VRSN a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on VRSN the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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