Eagle Bulk Shipping (EGLE) NewsBite - EGLE Upgraded By Wachovia

Posted: Tuesday, February 24, 2009 1:20 PM EDT

Eagle Bulk Shipping (EGLE) was upgraded today by analysts at Wachovia and the stock is now at $3.47, up $0.54 (18.43%) on volume of 2,362,790 shares traded. The analysts upgraded EGLE to "Outperform" from "Market Perform." Over the last 52 weeks the stock has ranged from a low of $2.55 to a high of $36.24. Eagle Bulk Shipping stock has been showing support around $2.06 and resistance in the $4.64 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for EGLE. If you are looking for a hedged play on EGLE the stock seems like it could be a candidate for a September covered call above the 2.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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