Canadian Pacific Railway (CP) 7/30/10 PriceWatch Alert Technicals Showing Bullish
Posted: Friday, July 30, 2010 8:47 AM EDT
By: Market Intelligence Center Staff
Canadian Pacific Railway (NYSE: CP) closed yesterday at $59.21. So far the stock has hit a 52-week low of $40.94 and 52-week high of $61.98. Canadian Pacific Railway stock has been showing support around 58.28 and resistance in the 60.00 range. Technical indicators for the stock are Bullish and S&P gives CP a neutral 3 STAR (out of 5) hold rating. CP appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Sep '10 55 covered call for a net debit in the $53.91 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 8.95% downside protection and a 2.02% assigned return rate for a 14.76% annualized return rate (comparison purposes only). Canadian Pacific Railway has a current annual dividend yield of 1.79%. [FBB-Seven Summits Research]
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