Avery Dennison (AVY) 3/17/10 PriceWatch Alert Targets 5.00% Return
Posted: Wednesday, March 17, 2010 8:36 AM EDT
By: Market Intelligence Center Staff
Avery Dennison (NYSE: AVY) closed yesterday at $34.05. So far the stock has hit a 52-week low of $19.68 and 52-week high of $40.23. Avery Dennison stock has been showing support around 33.17 and resistance in the 34.59 range. Technical indicators for the stock are Neutral and S&P gives AVY a positive 4 STAR (out of 5) buy rating. AVY appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Oct '10 30 covered call for a net debit in the $29.15 area. That is also the break even stock price for this trade. This covered call has a 213 day duration, provides 14.39% downside protection and a 2.92% assigned return rate for a 5.00% annualized return rate (comparison purposes only). Avery Dennison has a current annual dividend yield of 2.40%. [WBA-Seven Summits Research]
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