PPG Industries (PPG) Showing Support At $57.43 With S&P 5 Star Strong Buy Rating

Posted: Friday, November 06, 2009 9:03 AM EDT

PPG Industries (NYSE: PPG) closed yesterday at $59.19. So far the stock has hit a 52-week low of $28.16 and 52-week high of $62.31. PPG Industries stock has been showing support around 57.43 and resistance in the 60.23 range. Technical indicators for the stock are Bullish and S&P gives PPG a very positive 5 STAR (out of 5) strong buy rating. PPG appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 55 covered call (PPG AK) for a net debit in the $53.79 area. That is also the break even stock price for this trade. This covered call has a 71 day duration, provides 9.12% downside protection and a 2.25% assigned return rate for an 11.56% annualized return rate (comparison purposes only). PPG Industries has a current annual dividend yield of 3.66%. [FBB-Seven Summits Research]

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