Patriot Coal (PCX) NewsBite - One Of Today's Top Losers

Posted: Tuesday, June 16, 2009 2:48 PM EDT

Patriot Coal (PCX) leads the list of top losers so far today and is now at $7.90, down $1.02 (-11.43%) on volume of 6,686,890 shares traded. Over the last 52 weeks the stock has ranged from a low of $2.76 to a high of $82.22. Patriot Coal stock has been showing support around $8.18 and resistance in the $10.22 range. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for PCX. If you are looking for a hedged play on PCX the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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