McKesson (MCK) NewsBite - MCK Tading Up To New 52 Week High

Posted: Friday, November 06, 2009 1:13 PM EDT

McKesson (NYSE: MCK) hit a new 52-Week high of $62.40 so far today. Currently the stock is up $0.21 (0.34%) to $62.18 on 969,284 shares traded. Today's high is up $33.91 from a 52-Week Low of $28.27. McKesson stock has been showing support around $60.46 and resistance in the $62.82 range. Technical indicators for the stock are bullish and S&P gives MCK a positive 5 STARS (out of 5) strong buy ranking. After posting better than expected earnings late last month the stock has been strong, trading up to a new 52 week high earlier in the session. If you are looking for a hedged play on MCK the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 52.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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