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Aluminum Corporation of China (NYSE: ACH) NewsBite - Concerns Surface over ACH-RTP Deal
- China Aluminium Network
- Post Time: 2009/3/19
- Click Amount: 414
Aluminum Corporation of China (NYSE: ACH) opened at $13.39. So far today, the stock has hit a low of $12.94 and a high of $13.39. ACH is now trading at $13.25, down $.76 (-5.42%). The stock hit its 52-Week high of $47.95 in May and set its 52-Week low of $7.22 in October. ACH is down big as concerns mount over whether its proposed deal with Rio Tinto (RTP) will be torpedoed by Australian legislators. Technical indicators for the stock are bearish and S&P gives ACH a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on ACH the stock seems like it could be a candidate for a May out-of-the-money bear-call credit spread above the 17.50 range.
Source: www.marketintelligencecenter.com
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