Rambus (RMBS) NewsBite - One of Today's Top Gainers So Far

Posted: Tuesday, February 24, 2009 3:11 PM EDT

Rambus (RMBS) leads the list of top gainers so far today and is now at $9.41, up $2.71 (40.45%) on volume of 10,859,671 shares traded. Over the last 52 weeks the stock has ranged from a low of $4.95 to a high of $26.41. Rambus stock has been showing support around $5.69 and resistance in the $7.85 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for RMBS. If you are looking for a hedged play on RMBS the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 7 range. [ABR-Seven Summits Strategic Investments NewsBite]

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