Lamar Advertising (LAMR) NewsBite - Trading With Unusual Volume

Posted: Friday, February 27, 2009 2:31 PM EDT

Lamar Advertising (LAMR) appears to be trading at a higher than usual volume today and is now at $7.00, up $0.61 (9.55%) on volume of 3,454,326 shares traded. For the last 30 days LAMR has traded 1,562,963 shares on average each day. So far today's volume is 121.01% above that average volume. Over the last 52 weeks the stock has ranged from a low of $5.77 to a high of $42.64. Lamar Advertising stock has been showing support around $5.36 and resistance in the $7.22 range. Technical indicators for the stock are bullish and S&P gives LAMR a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on LAMR the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]

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