Continental Airlines (CAL) NewsBite - CAL Upgraded By UBS

Posted: Friday, September 25, 2009 1:26 PM EDT

Continental Airlines (CAL) was upgraded today by analysts at UBS and the stock is now at $16.57, up $0.54 (3.37%) on volume of 3,989,687 shares traded. The analysts lifted CAL to Buy from Neutral. Over the last 52 weeks the stock has ranged from a low of $6.37 to a high of $21.83. Continental Airlines stock has been showing support around $15.26 and resistance in the $17.02 range. Technical indicators for the stock are bullish and S&P gives CAL a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on CAL the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 14 range. [ABR-Seven Summits Strategic Investments NewsBite]

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