Callaway Golf (ELY) NewsBite - ELY Downgraded By Morgan Joseph
Posted: Monday, October 19, 2009 1:40 PM EDT
Callaway Golf (ELY) was downgraded today by analysts at Morgan Joseph and the stock is now at $7.81, down $0.50 (-6.02%) on volume of 1,375,894 shares traded. The brokerage reduced ELY to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $4.66 to a high of $10.67. Callaway Golf stock has been showing support around $7.58 and resistance in the $9.02 range. Technical indicators for the stock are bearish and S&P gives ELY a negative 2 STARS (out of 5) sell ranking. We will just watch this one for now. There are no hedged trades we like the look of for ELY. [ABR-Seven Summits Strategic Investments NewsBite]
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