Eagle Bulk Shipping (EGLE) NewsBite - EGLE Upgraded By Dahlman Rose

Posted: Tuesday, May 19, 2009 1:56 PM EDT

Eagle Bulk Shipping (EGLE) was upgraded today by analysts at Dahlman Rose and the stock is now at $7.34, up $0.58 (8.58%) on volume of 4,198,718 shares traded. The brokerage upgraded the stock to Buy from Hold. 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 $6.37 and resistance in the $7.15 range. Technical indicators for the stock are bullish 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 July out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]

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