Kraft Foods (KFT) Rises on Defensive Rally
Posted: Friday, November 20, 2009 10:15 AM EDT
By: Market Intelligence Center Staff
Kraft Foods (NYSE: KFT) opened at $27.59. So far today, the stock has hit a low of $27.17 and a high of $27.84. KFT is now trading at $27.26, up $0.28 (1.04%). Over the last 52 weeks the stock has ranged from a low of $20.81 to a high of $29.84. Shares of KFT are rising this morning as investors move into positions on defensive stocks in the consumer staples sector as the market opened lower for the fourth straight morning. Investors often flock to defensive stocks during market downturns due to their low volatility. Technical indicators for the stock are bearish and S&P gives KFT a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on KFT the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]
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