Mechel OAO (MTL) NewsBite - One of Today's Top Gainers
Posted: Wednesday, July 15, 2009 2:35 PM EDT
By: Market Intelligence Center Staff
Mechel OAO (MTL) leads the list of top gainers so far today and is now at $8.84, up $1.14 (14.81%) on volume of 3,468,718 shares traded. Over the last 52 weeks the stock has ranged from a low of $2.56 to a high of $47.40. Mechel OAO stock has been showing support around $7.28 and resistance in the $8.04 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for MTL. If you are looking for a hedged play on MTL the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Mechel (MTL) Stock ReportSee what our analysts have uncovered about Mechel (MTL).