Honda Motor (HMC) NewsBite - HMC Downgraded By Barclays Capital

Posted: Friday, June 12, 2009 2:10 PM EDT

Honda Motor (HMC) was downgraded today by analysts at Barclays Capital and the stock is now at $28.71, down $0.61 (-2.07%) on volume of 491,491 shares traded. The analysts reduced the stock to Equal Weight from Overweight. Over the last 52 weeks the stock has ranged from a low of $17.35 to a high of $36.29. Honda Motor stock has been showing support around $28.73 and resistance in the $29.99 range. Technical indicators for the stock are bearish and S&P gives HMC a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on HMC the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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