Alcon (ACL) NewsBite - ACL Downgraded By Wells Fargo
Posted: Wednesday, July 28, 2010 1:31 PM EDT
Alcon (ACL) was downgraded today by analysts at Wells Fargo and the stock is now at $154.71, down $1.40 (-0.9%) on volume of 396,694 shares traded. The stock was cut to Market Perform from Outperform. Over the last 52 weeks the stock has ranged from a low of $125.00 to a high of $166.71. Alcon has been showing support around $154.09 and resistance in the $157.37 range. Technical indicators for the stock are neutral and S&P gives ACL a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ACL the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 170 range. [ABR-Seven Summits Strategic Investments NewsBite]
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