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Schnitzer Steel Industries (SCHN) NewsBite - SCHN Upgraded By Longbow

Oct 29, 2009 (Fresh Brewed Media via COMTEX) --

Company: Schnitzer Steel Industries, Inc. (SCHN)

Schnitzer Steel Industries (SCHN) was upgraded today by analysts at Longbow and the stock is now at $45.21, up $1.92 (4.44%) on volume of 556,044 shares traded. The brokerage upped SCHN to Neutral from Sell. Over the last 52 weeks the stock has ranged from a low of $16.45 to a high of $63.98. Schnitzer Steel Industries stock has been showing support around $40.58 and resistance in the $48.20 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for SCHN. If you are looking for a hedged play on SCHN the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 40 range.

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Company: Schnitzer Steel Industries, Inc. (SCHN)


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