Ruby Tuesday (RT) NewsBite - RT Could Be On the Move

Posted: Thursday, October 01, 2009 10:45 AM EDT

Ruby Tuesday (RT) could be on the move today and is now at $8.03, down $0.39 (-4.63%) on volume of 117,108 shares traded. Over the last 52 weeks the stock has ranged from a low of $0.85 to a high of $9.04. RT was covered in a Lee Allen report today. To read the report, go to www.marketintelligencecenter.com/la100109 . Ruby Tuesday stock has been showing support around $8.06 and resistance in the $8.90 range. Technical indicators for the stock are bearish and S&P gives RT a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on RT the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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