Toll Brothers (TOL) NewsBite - TOL Downgraded By Citigroup

Posted: Monday, August 24, 2009 1:38 PM EDT

Toll Brothers (TOL) was downgraded today by analysts at Citigroup and the stock is now at $22.02, down $0.68 (-3.00%) on volume of 3,045,798 shares traded. The analysts downgraded the stock to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $13.55 to a high of $28.00. Toll Brothers stock has been showing support around $21.79 and resistance in the $23.41 range. Technical indicators for the stock are bullish and S&P gives TOL a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on TOL the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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