Freddie Mac (FRE) NewsBite - One Of Today's Top Losers

Posted: Monday, August 31, 2009 2:44 PM EDT
By: Market Intelligence Center Staff

Federal Home Loan Mortgage (FRE) leads the list of top losers so far today and is now at $2.21, down $0.19 (-7.92%) on volume of 105,603,096 shares traded. Over the last 52 weeks the stock has ranged from a low of $.25 to a high of $7.43. Federal Home Loan Mortgage stock has been showing support around $2.13 and resistance in the $2.63 range. Technical indicators for the stock are neutral and S&P gives FRE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on FRE the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 4 range. [ABR-Seven Summits Strategic Investments NewsBite]