VeriSign (VRSN) NewsBite - VRSN Upgraded By JP Morgan

Posted: Monday, June 22, 2009 2:27 PM EDT

VeriSign (VRSN) was upgraded today by analysts at JP Morgan and the stock is now at $18.67, up $0.08 (0.43%) on volume of 4,835,645 shares traded. The analysts upped VRSN to Overweight from Neutral. Over the last 52 weeks the stock has ranged from a low of $16.23 to a high of $40.58. VeriSign stock has been showing support around $18.10 and resistance in the $19.20 range. Technical indicators for the stock are bullish and S&P gives VRSN a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on VRSN the stock seems like it could be a candidate for an August out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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