Advance Auto Parts (AAP) 2/9/10 PriceWatch Alert Support At Around $39.94
Posted: Tuesday, February 09, 2010 8:47 AM EDT
By: Market Intelligence Center Staff
Advance Auto Parts (NYSE: AAP) closed yesterday at $40.81. So far the stock has hit a 52-week low of $31.64 and 52-week high of $47.41. Advance Auto Parts stock has been showing support around 39.94 and resistance in the 42.18 range. Technical indicators for the stock are Bullish and S&P gives AAP a very positive 5 STAR (out of 5) strong buy rating. AAP appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jun '10 40 covered call for a net debit in the $37.61 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 7.84% downside protection and a 6.35% assigned return rate for a 17.84% annualized return rate (comparison purposes only). Advance Auto Parts has a current annual dividend yield of 0.59%. [ATU-Seven Summits Research]
CLICK HERE: FREE Advance Auto Parts (AAP) Stock ReportSee what our analysts have uncovered about Advance Auto Parts (AAP).