A Great Bullish Play On Massey Energy (MEE) Stock

Posted: Monday, November 16, 2009 1:45 PM EDT
By: Market Intelligence Center Staff





Massey Energy (NYSE: MEE) hit a new 52-Week high of $37.83 so far today. Currently the stock is up $1.35 (3.75%) to $37.38 on 2,818,538 shares traded. Today's high is up $27.76 from a 52-Week Low of $9.62. Massey Energy stock has been showing support around $34.60 and resistance in the $37.42 range. Technical indicators for the stock are neutral and S&P gives MEE a neutral 3 STARS (out of 5) hold ranking. Energy prices are moving higher today and Massey Energy is trading higher as a result and the stock traded up to a new 52 week high earlier in the session. If you are looking for a hedged play on MEE the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 27.50 range. [ABR-Seven Summits Strategic Investments NewsBite]



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Hedged Trade Ideas For MEE:

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