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Schaeffer's Option Activity Alert: KeyCorp Call Buyers Could Be Disappointed

^{Published on 2009-01-09 12:21:39, Last Modified on 2009-01-09 12:22:00 - Market Wire}
 

CINCINNATI--([ BUSINESS WIRE ])--Cleveland-based KeyCorp (NYSE: KEY) was one of many financial firms to be hammered by the subprime implosion and credit crisis of 2008, and the shares are now having trouble finding a floor. For a while, it seemed as though the equity would establish a basement near 10, but KEY tumbled below this psychologically critical level in mid-November.

Now, this round-number region could switch roles to act as resistance. It's just one of many obstacles blocking the stock's path higher; additional resistance lies overhead from KEY's 10-week moving average, and further north, from its 35-week trendline. These 2 moving averages have ushered the equity consistently lower since March 2007.

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