Ann Taylor Stores (ANN) Breaks Through Resistance Level Above 15.85
Posted: Friday, September 03, 2010 10:05 AM EDT
By: Market Intelligence Center Staff
Ann Taylor Stores (NYSE: ANN) opened at $16.91. So far today, the stock has hit a low of $16.91 and a high of $18.03. ANN is now trading at $18.03, up $1.48 (8.94%). Over the last 52 weeks the stock has ranged from a low of $11.59 to a high of $25.24. ANN shares are rising with the rest of the market this morning after a better-than-expected unemployment report triggered an early market rally, reassuring investors who had become worried about the prospect of a double-dip recession. Technical indicators for the stock are bullish and S&P gives ANN a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on ANN the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 14 range. [ABR-Seven Summits Strategic Investments NewsBite]
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