Palm (PALM) NewsBite - PALM Upgraded By Barclays Capital

Posted: Thursday, November 05, 2009 2:02 PM EDT

Palm (PALM) was upgraded today by analysts at Barclays Capital and the stock is now at $11.49, up $0.63 (5.78%) on volume of 5,651,672 shares traded. The analysts upgraded PALM to Equal Weight from Underweight. Over the last 52 weeks the stock has ranged from a low of $1.14 to a high of $18.09. Palm stock has been showing support around $9.97 and resistance in the $12.09 range. Technical indicators for the stock are bearish and S&P gives PALM a negative 1 STARS (out of 5) strong sell ranking. If you are looking for a hedged play on PALM the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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