Westamerica Bancorp (WABC) Showing Bullish Price Movement With Support at 49.14

Posted: Thursday, November 12, 2009 9:04 AM EDT

Westamerica Bancorp (NasdaqNM: WABC) closed yesterday at $50.28. So far the stock has hit a 52-week low of $33.08 and 52-week high of $56.79. Westamerica Bancorp stock has been showing support around 49.14 and resistance in the 51.12 range. Technical indicators for the stock are Bullish and S&P gives WABC a neutral 3 STAR (out of 5) hold rating. WABC appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 50 covered call (WQF AJ) for a net debit in the $47.78 area. That is also the break even stock price for this trade. This covered call has a 65 day duration, provides 4.97% downside protection and a 4.65% assigned return rate for a 26.09% annualized return rate (comparison purposes only). Westamerica Bancorp has a current annual dividend yield of 2.84%. [THA-Seven Summits Research]

Click Symbol For More News On: (WABC)