Southern Copper (NYSE: PCU) NewsBite - PCU Hits 52-Week High

Posted: Monday, October 26, 2009 1:33 PM EDT

Southern Copper (NYSE: PCU) hit a new 52-Week high of $36.39 so far today. Currently the stock is down $0.27 (-0.76%) to $35.21 on 1,889,446 shares traded. Today's high is up $26.09 from a 52-Week Low of $9.12. Southern Copper stock has been showing support around $34.79 and resistance in the $36.59 range. Technical indicators for the stock are and S&P does not currently have a STARS rating for PCU. The stock is slightly lower today after setting a new 52 week high earlier in the session. The company has benefited recent weakness in the dollar which has pused commodity prices higher, and the stock has been rising steadily over the past 12 months. If you are looking for a hedged play on PCU the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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