TBS International (TBSI) NewsBite - TBSI Hits 52-Week Low

Posted: Thursday, September 25, 2008 2:44 PM EDT

TBS International (NasdaqNM: TBSI) hit a new 52-Week low of $17.04 so far today. Currently the stock is down $0.56 (-3.08%) to $17.62 on 965,760 shares traded. Today's low is down $53.53 from a 52-Week high of $71.15. TBS International stock has been showing support around $17.07 and resistance in the $20.19 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for TBSI. If you are looking for a hedged play on TBSI 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]

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