Diana Shipping (DSX) NewsBite - DSX Upgraded By JP Morgan

Posted: Thursday, November 20, 2008 2:04 PM EDT

Diana Shipping (DSX) was upgraded today by analysts at JP Morgan and the stock is now at $8.58, up $0.03 (0.35%) on volume of 2,286,340 shares traded. The analyst upgraded the stock to "Overweight" from "Neutral." Over the last 52 weeks the stock has ranged from a low of $8.51 to a high of $41.10. Diana Shipping stock has been showing support around $7.29 and resistance in the $10.99 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for DSX. If you are looking for a hedged play on DSX the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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