Filed under: Major movement, Bad news, Industry, Contl Airlines’B’ (CAL), Options, Technical Analysis, Oil

Continental Airlines, Inc. (NYSE: CAL) shares are declining this morning with other airline stocks as oil futures are rebounding from yesterday’s drop. The strong showing for oil is due to a pipeline fire in Minnesota. If you think this stock won’t be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on CAL.

After hitting a one-year high of $52.40 in January, the stock hit a one-year low of $25.18 last week. This morning, CAL opened at $28.55. So far today the stock has hit a low of $28.50 and a high of $29.09. As of 11:05, CAL is trading at $27.00, down $0.98 (-3.5%). The chart for CAL looks bearish and steady, while S&P gives the stock its highest 5 STARS (out of 5) strong buy rating.

Continue reading Continental Airlines (CAL) slides on rebounding oil

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This entry was posted on Thursday, November 29th, 2007 at 10:45 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.