Banco Itau Holding Financeira (ITU) NewsBite - ITU Gets Boost From Bargain Hunters

Posted: Friday, November 21, 2008 10:03 AM EDT

Banco Itau Holding Financeira (NYSE: ITU) opened at $9.12. So far today, the stock has hit a low of $8.86 and a high of $9.16. ITU is now trading at $9.04, up $.87 (10.65%). Over the last 52 weeks the stock has ranged from a low of $6.70 to a high of $25.88. Shares of ITU are trading higher with the rest of the market this morning after bargain-hunters entered the market following two days of steep selling. Technical indicators for the stock are neutral and S&P gives ITU a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ITU the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]

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