JPMorgan (JPM) Gains 5.3% as Financial Stocks Lead Rally on Euro Hopes
Posted: Monday, November 28, 2011 9:49 AM EDT
JPMorgan (NYSE: JPM) opened at $29.71. So far today, the stock has hit a low of $29.69 and a high of $29.99. JPM is now trading at $29.99, up $1.51 (5.3%). Over the last 52 weeks the stock has ranged from a low of $27.85 to a high of $48.36. The stock rose Monday as the financial sector helped lead a rally sparked in part by hope for strong action in the Eurozone. Technical indicators for the stock are neutral and S&P gives JPM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on JPM the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 20 range. [ABR-NewsBite]
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