Health Net (HNT) NewsBite - HNT Hits 52-Week Low

Posted: Tuesday, November 04, 2008 3:11 PM EDT

Health Net (NYSE: HNT) hit a new 52-Week low of $9.57 so far today. Currently the stock is down $3.22 (-24.17%) to $10.10 on 8,011,388 shares traded. Today's low is down $42.86 from a 52-Week high of $52.96. Health Net stock has been showing support around $12.49 and resistance in the $13.87 range. Technical indicators for the stock are neutral and S&P gives HNT a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on HNT the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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